Market Trends of France Payments Industry
E-Commerce is Observing Significant Growth
- E-commerce in France was estimated at over 50 million in 2022. In France, 85% of online purchases are paid using debit cards tied to their bank account. The quick rise in consumer preference for digital payments, the sharp rise in cross-border transactions, and the introduction of the EU Digital Identity Wallet are the critical drivers for the increasing demand for e-commerce in Europe.
- Worldline introduced passengers Express Transit for Apple Pay to enable travelers to tap their iPhone or Apple Watch on the transit readers and go. So passengers boarding the bus or train will become fast, have fewer problems securing cash, credit cards, or tickets, and enjoy greater security because they don't have to open their wallets or phones to tap on the system.
- Merchants are trying to attract customers by offering lucrative promotional offers for digital payment methods. Alipay+ rolled out various promotions and deals with local merchants in France, including retail store Printemps, to reward shoppers. The Printemps Haussmann store in France also gave e-wallet customers a special 5% off-store-wide discount and a free bubble tea ticket.
- Worldline collaborated with Alipay to enhance its payment offering for in-store and E-Commerce merchants across Europe. The fully integrated POS and e-Commerce solution from Worldline can be upgraded to enable Alipay+ acceptance with simple software upgrades at no additional cost. Businesses may profit from many industries, including retail, F&B, and hospitality.
Understand The Key Trends Shaping This Market
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Retail Sector is a key Factor for Market Growth
- France is the 2nd largest e-commerce market in Europe, with 41.8 million French people making purchases on the internet. There was a decline of 2.90 % annually in January 2023 in retail sales in France. The rising inflation has impacted the retail industry due to increased prices for fuel and energy because of the Russia-Ukraine war. To face this challenge, French Govt. made a deal with major retailers to cap many food prices.
- The European Govt. passed two laws, the Digital Markets Act (DMA) and the Digital Services Act (DSA), which will support the growth of digitization in the retail markets. Some retailers have already adopted the digitalization of point of sale for faster processing of orders.
- France is an essential hub for investment in Europe. At least four foreign investment projects target France every day. Lower corporate taxes and fewer employment tribunal cases have allowed companies to invest in the country.
- Everli and Carrefour signed an agreement for business expansion across ten cities in France. In several cities, the platform of Everli will make the supermarkets and hypermarkets of Carrefour accessible. Customers in these cities can order up to 25,000 items from more than 140 nearby retailers, and orders will be delivered the same day.
