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Country Report

Financial Cards and Payments in

Financial Cards and Payments in France

Nov 2020

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Executive Summary

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COVID-19 impact on consumer payments

The emergence of COVID-19 in France and the subsequent lockdown measures introduced in March in an attempt to control the spread of the virus had a profound negative impact on financial cards and payments in 2020, in terms of the number of cards in circulation, and overall transaction value as price-sensitive consumers hard hit by rising unemployment levels (particularly those in service industries such as tourism and foodservice) and decreasing disposable incomes reduced overall spending. Following a traditional habit in the case of a crisis, the French began to save more money than usual (they tend to be more enthusiastic savers compared to their European neighbours) and limited their non-essential purchases.

COVID-19 country impact

On 29 February 2020, gatherings of over 5,000 people were banned in France, with all gatherings banned on 2 March. On 16 March, schools closed and full lockdown was implemented, with non-essential outlets and horeca outlets closed, with only pharmacies and grocery retailers generally remaining open.

Limit on spending through contactless smart cards raised in response to pandemic while government comes to aid of businesses and employees suffering as a result of lockdown

The raising of the limit on the maximum transaction permitted to be made by contactless smart cards (using NFC technology) had already been discussed prior to the pandemic by issuers and was scheduled for 2020-2021. However, following the advice from the World Health Organization regarding the promotion of contactless payments to help reduce the spread of the virus through strategic touchpoints including point of sale terminals, the limit was quickly increased in May from EUR30 to EUR50 by the French Bank Federation (FBF).

Limited innovation from banks during pandemic but mobile m-commerce and online payments through financial cards increase

The emergence of the pandemic limited the ability of issuers to innovate in 2020, with most of them echoing advice from both the government and the World Health Organization regarding safety and social distancing in their communication with customers; this resulted in a greater push of contactless financial cards in addition to warning customers with contact smart cards to disinfect them after use.

Mastercard and Visa make great efforts to gain share from dominant operator Groupement des Cartes Bancaires through strategic partnerships

As witnessed in 2019, national interbank network Groupement des Cartes Bancaires is likely to remain the leading card payment operator in France in 2020. However, it is also likely to continue to face the growing challenge from international rivals Mastercard and Visa in the wake of regulatory changes implemented under the EU Payment Services Directive; most debit cards in the country for instance are co-badged with international networks in the country, and traditionally CB (Cartes Bancaires) is the default operator.

What next for consumer payments?

While there is likely to be ongoing weak consumer sentiment heading into the forecast period, particularly those impacted by unemployment and reduced disposable incomes as a result of the pandemic influencing their spending patterns, the expected rebound of GDP in the country should support the predicted positive performance of consumer payment transactions from 2021 onwards. In addition, France has been fairly successful in supporting local consumers in 2020 terms of financial assistance compared to other developed countries.

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Overview

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in France with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Financial Cards and Payments industry in France, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in France market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in France?
What are the major operators and issuers in France?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

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Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Financial Cards and Payments in France, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in France - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Limit on spending through contactless smart cards raised in response to pandemic while government comes to aid of businesses and employees suffering as a result of lockdown

Limited innovation from banks during pandemic but mobile m-commerce and online payments through financial cards increase

Mastercard and Visa make great efforts to gain share from dominant operator Groupement des Cartes Bancaires through strategic partnerships

What next for consumer payments?

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2015-2020
Table 2 Number of ATMs: Units 2015-2020
Table 3 Value Lost to Fraud 2015-2020
Table 4 Card Expenditure by Location 2020
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2015-2020
Table 6 Domestic versus Foreign Spend 2020

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2015-2020
Table 8 Financial Cards by Category: Number of Accounts 2015-2020
Table 9 Financial Cards Transactions by Category: Value 2015-2020
Table 10 Financial Cards by Category: Number of Transactions 2015-2020
Table 11 Consumer Payments by Category: Value 2015-2020
Table 12 Consumer Payments by Category: Number of Transactions 2015-2020
Table 13 M-Commerce by Category: Value 2015-2020
Table 14 M-Commerce by Category: % Value Growth 2015-2020
Table 15 Financial Cards: Number of Cards by Issuer 2015-2019
Table 16 Financial Cards: Number of Cards by Operator 2015-2019
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2015-2019
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 20 Forecast Financial Cards by Category: Number of Accounts 2020-2025
Table 21 Forecast Financial Cards Transactions by Category: Value 2020-2025
Table 22 Forecast Financial Cards by Category: Number of Transactions 2020-2025
Table 23 Forecast Consumer Payments by Category: Value 2020-2025
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2020-2025
Table 25 Forecast M-Commerce by Category: Value 2020-2025
Table 26 Forecast M-Commerce by Category: % Value Growth 2020-2025

DEFINITIONS

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 1 Research Sources

Charge Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Commercial charge cards hit hardest by pandemic and restricted travel linked to business activity

Personal charge cards sees ongoing usage in 2020 but average spend per transaction declines

Groupement des Cartes Bancaires remains dominant operator of charge cards in France but competitors are gaining acceptance amongst rising number of merchants

RECOVERY AND OPPORTUNITIES

Despite positive outlook, commercial charge cards unlikely to recover to pre-pandemic levels in terms of value due to short-term reluctance to travel for business

Recovery for personal charge cards but average spend per transaction set to continue declining over forecast period

Players offering commercial charge cards linked to travel likely to struggle into 2021

CATEGORY DATA

Table 27 Charge Cards: Number of Cards in Circulation 2015-2020
Table 28 Charge Cards Transactions 2015-2020
Table 29 Charge Cards in Circulation: % Growth 2015-2020
Table 30 Charge Cards Transactions: % Growth 2015-2020
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2015-2020
Table 32 Commercial Charge Cards Transactions 2015-2020
Table 33 Commercial Charge Cards in Circulation: % Growth 2015-2020
Table 34 Commercial Charge Cards Transactions: % Growth 2015-2020
Table 35 Personal Charge Cards: Number of Cards in Circulation 2015-2020
Table 36 Personal Charge Cards Transactions 2015-2020
Table 37 Personal Charge Cards in Circulation: % Growth 2015-2020
Table 38 Personal Charge Cards Transactions: % Growth 2015-2020
Table 39 Charge Cards: Number of Cards by Issuer 2015-2019
Table 40 Charge Cards: Number of Cards by Operator 2015-2019
Table 41 Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 42 Charge Cards Payment Transaction Value by Operator 2015-2019
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2015-2019
Table 44 Commercial Charge Cards: Number of Cards by Operator 2015-2019
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2015-2019
Table 47 Personal Charge Cards: Number of Cards by Issuer 2015-2019
Table 48 Personal Charge Cards: Number of Cards by Operator 2015-2019
Table 49 Personal Charge Cards Transaction Value by Issuer 2015-2019
Table 50 Personal Charge Cards Transaction Value by Operator 2015-2019
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2020-2025
Table 52 Forecast Charge Cards Transactions 2020-2025
Table 53 Forecast Charge Cards in Circulation: % Growth 2020-2025
Table 54 Forecast Charge Cards Transactions: % Growth 2020-2025
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2020-2025
Table 56 Forecast Commercial Charge Cards Transactions 2020-2025
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2020-2025
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2020-2025
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2020-2025
Table 60 Forecast Personal Charge Cards Transactions 2020-2025
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2020-2025
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2020-2025

Credit Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Saving habits of the French during times of crisis negatively impact usage of credit cards, with the pandemic and lockdown resulting in declines across the category

Distrust amongst local consumers towards credit cards restricts further potential to attract new users

Mastercard and Visa continue to gain ground through partnerships with major retailers but Groupement des Cartes Bancaires remains dominate operator

RECOVERY AND OPPORTUNITIES

Slow recovery predicted for credit cards but transaction value unlikely to reach pre-pandemic levels by the end of the forecast period

Greater switch away from revolving credit may emerge over forecast period

Disruptive online-only players could offer further competition over the forecast period

CATEGORY DATA

Table 63 Credit Cards: Number of Cards in Circulation 2015-2020
Table 64 Credit Cards Transactions 2015-2020
Table 65 Credit Cards in Circulation: % Growth 2015-2020
Table 66 Credit Cards Transactions: % Growth 2015-2020
Table 67 Personal Credit Cards: Number of Cards in Circulation 2015-2020
Table 68 Personal Credit Cards Transactions 2015-2020
Table 69 Personal Credit Cards in Circulation: % Growth 2015-2020
Table 70 Personal Credit Cards Transactions: % Growth 2015-2020
Table 71 Credit Cards: Number of Cards by Issuer 2015-2019
Table 72 Credit Cards: Number of Cards by Operator 2015-2019
Table 73 Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 74 Credit Cards Payment Transaction Value by Operator 2015-2019
Table 75 Personal Credit Cards: Number of Cards by Issuer 2015-2019
Table 76 Personal Credit Cards: Number of Cards by Operator 2015-2019
Table 77 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 78 Personal Credit Cards Payment Transaction Value by Operator 2015-2019
Table 79 Forecast Credit Cards: Number of Cards in Circulation 2020-2025
Table 80 Forecast Credit Cards Transactions 2020-2025
Table 81 Forecast Credit Cards in Circulation: % Growth 2020-2025
Table 82 Forecast Credit Cards Transactions: % Growth 2020-2025
Table 83 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 84 Forecast Personal Credit Cards Transactions 2020-2025
Table 85 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025
Table 86 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

Debit Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Initial panic buying and concerns over coming into contact with virus support usage of debit cards over cash but average spend per transaction set to continue to decline over 2020

Contactless smart cards gain notable share following advice from World Health Organization, resulting in limit on payment amount made using this technology being raised in 2020

Share gain for issuers with online subsidiaries, while Mastercard and Visa also gain marginal ground despite Cartes Bancaires remaining as dominant operator in 2019

RECOVERY AND OPPORTUNITIES

Personal debit cards set to continue to decline in circulation but number of transactions set to surpass pre-pandemic levels as consumers make more frequent smaller payments

Strengthening security in terms of both physical and online payments will be area of focus for many players

Online issuers with competitive features likely to attract increasing number of consumers

CATEGORY DATA

Table 87 Debit Cards: Number of Cards in Circulation 2015-2020
Table 88 Debit Cards Transactions 2015-2020
Table 89 Debit Cards in Circulation: % Growth 2015-2020
Table 90 Debit Cards Transactions: % Growth 2015-2020
Table 91 Debit Cards: Number of Cards by Issuer 2015-2019
Table 92 Debit Cards: Number of Cards by Operator 2015-2019
Table 93 Debit Cards Payment Transaction Value by Issuer 2015-2019
Table 94 Debit Cards Payment Transaction Value by Operator 2015-2019
Table 95 Forecast Debit Cards: Number of Cards in Circulation 2020-2025
Table 96 Forecast Debit Cards Transactions 2020-2025
Table 97 Forecast Debit Cards in Circulation: % Growth 2020-2025
Table 98 Forecast Debit Cards Transactions: % Growth 2020-2025

Pre-Paid Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Significant decline noted for pre-paid cards during lockdown but open loop had already been losing popularity prior to pandemic

Dominant closed loop influences overall category performance in 2020

Making notable gains in 2019, Edenred, like many other issuers, is likely to be impacted by pandemic with reduced demand for gift and meal vouchers

RECOVERY AND OPPORTUNITIES

Recovery predicted for pre-paid cards, driven by closed loop but average spend per transaction will remain lower than pre-pandemic

Despite increasing adoption by merchants and tech-savvy consumers, digital payment solutions for transport and meal vouchers will lag due to preference for physical cards

While gift cards is likely to see slow recovery, demand for open loop pre-paid cards is predicted to further decline

CATEGORY DATA

Table 99 Pre-paid Cards: Number of Cards in Circulation 2015-2020
Table 100 Pre-paid Cards Transactions 2015-2020
Table 101 Pre-paid Cards in Circulation: % Growth 2015-2020
Table 102 Pre-paid Cards Transactions: % Growth 2015-2020
Table 103 Closed Loop Pre-paid Cards Transactions 2015-2020
Table 104 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 105 Open Loop Pre-paid Cards Transactions 2015-2020
Table 106 Open Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 107 Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 108 Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 109 Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 110 Pre-paid Cards Transaction Value by Operator 2015-2019
Table 111 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 112 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 113 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 114 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 115 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 116 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 117 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 118 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 119 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 120 Forecast Pre-paid Cards Transactions 2020-2025
Table 121 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025
Table 122 Forecast Pre-paid Cards Transactions: % Growth 2020-2025
Table 123 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025
Table 124 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 125 Forecast Open Loop Pre-paid Cards Transactions 2020-2025
Table 126 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

Store Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Waning interest in store cards prior to emergence of pandemic due to increasing preference for co-branded credit cards

Lockdown reduces opportunity to use store cards in non-essential retailers, exacerbating decline of the category in 2020

Fairly consolidated competitive landscape with share gains for Crédit Agricole prior to emergence of pandemic

RECOVERY AND OPPORTUNITIES

Ongoing declines for store cards as the French display greater levels of selectiveness in terms of payment options

Greater focus on shifting consumers’ attention towards co-branded credit cards

Potential to further explore possibilities of store cards linked to digital wallets

CATEGORY DATA

Table 127 Store Cards: Number of Cards in Circulation 2015-2020
Table 128 Store Cards Transactions 2015-2020
Table 129 Store Cards in Circulation: % Growth 2015-2020
Table 130 Store Cards Transactions: % Growth 2015-2020
Table 131 Store Cards: Number of Cards by Issuer 2015-2019
Table 132 Store Cards: Payment Transaction Value by Issuer 2015-2019
Table 133 Forecast Store Cards: Number of Cards in Circulation 2020-2025
Table 134 Forecast Store Cards Transactions 2020-2025
Table 135 Forecast Store Cards in Circulation: % Growth 2020-2025
Table 136 Forecast Store Cards Transactions: % Growth 2020-2025

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Megatrends

Country Report

Financial Cards and Payments in France

New Report Guarantee

Executive Summary

New Report Guarantee

COVID-19 impact on consumer payments

COVID-19 country impact

Limit on spending through contactless smart cards raised in response to pandemic while government comes to aid of businesses and employees suffering as a result of lockdown

Limited innovation from banks during pandemic but mobile m-commerce and online payments through financial cards increase

Mastercard and Visa make great efforts to gain share from dominant operator Groupement des Cartes Bancaires through strategic partnerships

What next for consumer payments?

Overview

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Samples (FAQs about samples):

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Table of Contents

Financial Cards and Payments in France - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Limit on spending through contactless smart cards raised in response to pandemic while government comes to aid of businesses and employees suffering as a result of lockdown

Limited innovation from banks during pandemic but mobile m-commerce and online payments through financial cards increase

Mastercard and Visa make great efforts to gain share from dominant operator Groupement des Cartes Bancaires through strategic partnerships

What next for consumer payments?

MARKET INDICATORS

MARKET DATA

DEFINITIONS

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Charge Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Commercial charge cards hit hardest by pandemic and restricted travel linked to business activity

Personal charge cards sees ongoing usage in 2020 but average spend per transaction declines

Groupement des Cartes Bancaires remains dominant operator of charge cards in France but competitors are gaining acceptance amongst rising number of merchants

RECOVERY AND OPPORTUNITIES

Despite positive outlook, commercial charge cards unlikely to recover to pre-pandemic levels in terms of value due to short-term reluctance to travel for business

Recovery for personal charge cards but average spend per transaction set to continue declining over forecast period

Players offering commercial charge cards linked to travel likely to struggle into 2021

CATEGORY DATA

Credit Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Saving habits of the French during times of crisis negatively impact usage of credit cards, with the pandemic and lockdown resulting in declines across the category

Distrust amongst local consumers towards credit cards restricts further potential to attract new users

Mastercard and Visa continue to gain ground through partnerships with major retailers but Groupement des Cartes Bancaires remains dominate operator

RECOVERY AND OPPORTUNITIES

Slow recovery predicted for credit cards but transaction value unlikely to reach pre-pandemic levels by the end of the forecast period

Greater switch away from revolving credit may emerge over forecast period

Disruptive online-only players could offer further competition over the forecast period

CATEGORY DATA

Debit Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Initial panic buying and concerns over coming into contact with virus support usage of debit cards over cash but average spend per transaction set to continue to decline over 2020

Contactless smart cards gain notable share following advice from World Health Organization, resulting in limit on payment amount made using this technology being raised in 2020

Share gain for issuers with online subsidiaries, while Mastercard and Visa also gain marginal ground despite Cartes Bancaires remaining as dominant operator in 2019

RECOVERY AND OPPORTUNITIES

Personal debit cards set to continue to decline in circulation but number of transactions set to surpass pre-pandemic levels as consumers make more frequent smaller payments

Strengthening security in terms of both physical and online payments will be area of focus for many players

Online issuers with competitive features likely to attract increasing number of consumers

CATEGORY DATA

Pre-Paid Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Significant decline noted for pre-paid cards during lockdown but open loop had already been losing popularity prior to pandemic

Dominant closed loop influences overall category performance in 2020

Making notable gains in 2019, Edenred, like many other issuers, is likely to be impacted by pandemic with reduced demand for gift and meal vouchers

RECOVERY AND OPPORTUNITIES

Recovery predicted for pre-paid cards, driven by closed loop but average spend per transaction will remain lower than pre-pandemic

Despite increasing adoption by merchants and tech-savvy consumers, digital payment solutions for transport and meal vouchers will lag due to preference for physical cards

While gift cards is likely to see slow recovery, demand for open loop pre-paid cards is predicted to further decline

CATEGORY DATA

Store Cards in France - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Waning interest in store cards prior to emergence of pandemic due to increasing preference for co-branded credit cards