Debit Cards Continue to Dominate French Payments Market

Tuesday 8 March 2016, Amsterdam

Debit cards are set to remain the most widely used payment type in France over the next four years, as consumers are getting increasingly attracted by the convenience of contactless payments and the greater use of debit cards for online transactions.

In terms of transaction volume and value, debit cards will continue to dominate the payment cards market over the forecast period (up to 2019). This growth will be partially supported by consumer awareness of debt control and the continued migration of low-value cash payments to debit cards. Moreover, an increase in the use of contactless cards will also be one of the major drivers of this trend. According to the key player, by 2019 the debit card transaction volume and value is expected to reach 9.4 million and EUR432.1 million respectively, compared to 8.4 million and EUR405.8 million in 2015.

“With the debit card market nearing maturity, banks in France have turned their focus towards niche segments such as students and the young population. Product differentiation, value-added services and benefits have therefore become key differentiating factors to attract debit card users,” comments Kartik Challam