France Mobile Payment Market Insights Forecasts to 2033

• The Market Size is Growing at a 29.1% CAGR from 2023 to 2033
• The France Mobile Payment Market Size is Expected to Hold a Significant Share by 2033

France Mobile Payment Market Size is Anticipated to Hold a Significant Share by 2033, Growing at a 29.1% CAGR from 2023 to 2033.

Market Overview

Mobile payment serves as a substitute for outdated payment methods like cash, checks, or credit cards. Customers can use wireless devices such as smartphones and tablets to make purchases of goods or services through mobile payments. Furthermore, mobile payments utilize various technologies such as NFC (Near Field Communication), SMS-based transactional payments, and direct mobile billing to enhance transaction security and provide seamless transactions. The mobile payment industry in France has seen substantial growth in recent years and is constantly evolving. The use of mobile payments has surged as consumers are more inclined towards digital technologies and convenient secure payment methods. Mobile payments enable individuals to conduct transactions through their mobile gadgets like smartphones or tablets using a variety of technologies like NFC, QR codes, mobile wallets, and mobile banking apps. France possesses a sophisticated financial sector and a population adept at technology, fostering an ideal setting for the expansion of the mobile payment industry. The growth of the market has been aided by the strong infrastructure of the country, the widespread use of smartphones, and the involvement of key players in the fintech and payment sectors. Furthermore, the efforts of the France government to encourage digital modernization and expand financial access have also bolstered the use of mobile payment options.

Report Coverage

This research report categorizes the market for the France mobile payment market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the France mobile payment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the France mobile payment market.

Driving Factors

Increasing consumer demand for convenient and secure payment methods is a key factor driving the France mobile payment market. Due to the growth of online shopping and electronic payments, customers are seeking payment options that provide a smooth and stress-free process. Moreover, the rise in smartphone usage and the increasing popularity of mobile commerce have raised the need for mobile payment options. With consumers depending more on their mobile devices for tasks like shopping and banking, it is crucial to incorporate mobile payments to improve the user experience. Furthermore, the efforts of the France government to boost digital transformation and financial inclusion have had a significant impact on driving the expansion of the mobile payments sector. The advancement of technology in financial services and the promotion of digital payment methods have led to a conducive atmosphere for the growth of mobile payment solutions.

Restraining Factors

With the increase in the use of mobile devices for financial transactions, the threat of cyber security risks, including hacking, data breaches, and fraudulent activities, also grows.

Market Segmentation

The France mobile payment market share is classified into payment type and industry.

• The remote payment segment is expected to hold the largest market share through the forecast period.   

The France mobile payment market is segmented by payment type into proximity payment and remote payment. Among them, the remote payment segment is expected to hold the largest market share through the forecast period. Remote payment provides the convenience of contactless payment using an online terminal that is instantly accessible. It prevents unauthorized devices from accessing the network and ensures all transactions are completely secure. In this section, there will be a rapid increase in the popularity of digital wallets due to the wide range of options available like Freecharge, Amazon Pay, Payzapp, and others. Moreover, due to the lack of direct interaction needed for remote payments.

• The BFSI segment is expected to hold the largest market share through the forecast period.

The France mobile payment market is segmented by industry into media & entertainment, retail & e-commerce, BFSI, automotive, medical & healthcare, transportation, consumer electronics, and others. Among them, the BFSI segment is expected to hold the largest market share through the forecast period. Payment technology offers exciting prospects for the BFSI sector, allowing for instant transactions without the need for lengthy procedures. The platform providers are teaming up with banks and other banking service providers to incorporate this technology into their payment platforms. This has resulted in the development of a mobile banking system that enables users to pay for shopping, retail transactions, electricity bills, and more.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the France mobile payment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Google LLC
• Paypal Inc.
• American Express Co.
• Visa Inc.
• Mastercard Inc.
• Amazon.com, Inc.
• Apple Inc.
• Samsung Electronics Co., Ltd.
• Swile
• Lydia
• Paylib Services
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2022, Visa revealed the finalization of its purchase of Tink, an open banking platform enabling financial institutions, fintech’s, and merchants to create and deliver financial products and services. Tink's customers can transfer funds, access combined financial information, and utilize intelligent financial solutions such as risk analysis and account authentication through one API.

Market Segment

This study forecasts revenue at France, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the France Mobile Payment Market based on the below-mentioned segments:

France Mobile Payment Market, By Payment Type

• Proximity Payment
• Remote Payment

France Mobile Payment Market, By Industry

• Media & Entertainment
• Retail & E-commerce
• BFSI
• Automotive
• Medical & Healthcare
• Transportation
• Consumer Electronics
• Others