Consumer Payments Country Snapshot: France
As one of the largest consumer markets in Europe, France’s highly developed payments system plays a key role in the economy. The macroeconomic woes facing the country have been instrumental in France’s payments market witnessing minimal expansion in recent years. While growth in the market is expected to remain sluggish in the near to medium term, the emergence of new payment technologies and online retail channels (specifically in the form of contactless, NFC, and m-commerce) display considerable potential to spur renewed activity in the space. It will serve the industry well to ramp up its efforts to nurture high-potential payment technology companies.
- Issuers are getting contactless cards into the hands of consumers, but many are either unconvinced of the technology’s benefits or concerned about security. Payment providers will need to invest in educating consumers on the benefits of contactless technology and strengthening the technology’s value proposition.
- E-commerce continues to account for the vast majority of online purchases in France. However, m-commerce is gaining ground, with its share of online purchases quickly growing from 1% in 2010 to 12% in 2014. Payment providers should look to invest in mobile to ensure their long-term relevance.
- France’s POS terminal infrastructure has witnessed minimal expansion in recent years. Given the market’s sizable smartphone penetration levels mPOS offers a major opportunity to boost card acceptance levels among merchants – especially the 730,000 SMEs in France that have smartphones but do not accept card payments (according to Visa Europe).
“Consumer Payments Country Snapshot: France” is a comprehensive review of the consumer payments space in France. It provides payment card statistics on market size and forecasts, as well as analysis of regulation, acquiring, and payment innovation in France.Reasons To Buy
- Futureproof your strategy with market sizing, forecasts, and analysis of key developments currently affecting the payments market in France.
- Target consumers with inside knowledge of their true behaviors and attitudes with detailed analysis from our proprietary insight.
- Learn about the threat new payment technologies pose to the payment card space, and how these developments will influence market dynamics.
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