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Learn moreNov 2020
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The emergence of COVID-19 in France had a notable impact on debit card utilisation, although it differed from what was initially expected. With panic buying and concerns over coming into contact with the virus setting in, March 2020 saw an upturn in transactions and transaction value through debit cards at the expense of paper payment transactions (cash/cheques); the latter was already losing popularity in the country as a viable payment method, resulting in the ongoing gradual decline in the number of ATMs in the country, but experienced a more drastic decline in terms of usage as various media reports highlighted the increasing likelihood of exposure to the virus through contact, thereby encouraging consumers to use financial cards over the handling of cash.
Prompted by advice from the World Health Organization which encouraged greater use of contactless payments during the pandemic to avoid contact with the virus on surfaces (including payment terminals), the French Bank Federation (FBF) agreed to raise the limit on contactless payments from EUR30 to EUR50 which took effect from 11 May 2020. Increasing the limit on contactless payments had already been discussed towards the end of the review period, due to the wide adoption of near field communication (NFC) technology by merchants and the propensity amongst the French to use their contactless debit cards for smaller payments, appreciating this convenient and time-saving method, and resulting in the general decline in the average spend per transaction.
Established banks such as Groupe Crédit Agricole and BPCE SA (Banques Populaires Caisses d'Epargne Groupe) remained the leading issuers of debit cards in 2019, despite finding it increasingly difficult to attract new customers over the review period in an intensifying competitive landscape. Nevertheless, issuers with online subsidiaries such as Groupe BNP Paribas (Hello Bank) and Groupe Crédit Mutuel (Fortuneo) continued to gain value share in transactions by offering generous sign-up bonuses and using debit cards that do not incur annual fees.
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Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in France with research from Euromonitor's team of in-country analysts.
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Euromonitor’s industry reports, including Debit Transactions in France, originate from our database within our Consumer Finance market share and market size database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.