Market Trends of France Mobile Payment Industry
This section covers the major market trends shaping the France Mobile Payment Market according to our research experts:
Proximity Segment is Expected to Drive Growth of Mobile Payment
- Mobile proximity payments are mobile payments in which the payer and payee are in the same location, and communication between their devices occurs via proximity technology (such as Near Field Communication (NFC), Quick Response (QR) codes, Bluetooth technology, and so on).
- Mobile contactless payments are a part of mobile proximity payments. A credit transfer might be used as the underlying payment mechanism. Mobile proximity payments include Customer-to-Business (made, for example, at a merchant store, a parking lot, or on public transportation) and Person-to-Person payments.
- For instance, in September 2021, PayPal has launched Digital Wallet, a new customizable application that allows customers to handle their everyday online payments more conveniently and securely. This new digital wallet is built on PayPal's AI and Machine Learning technologies and provides an optimal customer experience tailored to each user.
- Furthermore, in November 2021, the French modified their habits by purchasing food via e-commerce. While life appears to be returning to normal, a European survey commissioned by PayPal and conducted by the Maru/Matchbox I institute finds that the increase in e-commerce food and home meal delivery is indisputable among French consumers. 73% of respondents purchase groceries online, and 38 percent utilize home meal delivery services.
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E-commerce to Drive the Mobile Payments Market
- With a rising number of smartphones and high-speed cellular networks in France, the e-commerce business is expanding. Mobile transactions are predicted to develop significantly as the E-commerce industry grows, delivering a huge boost to the mobile payments business.
- The increasing number of smartphone users and high internet penetration increase in mobile commerce sales augur well for the segment's growth. Smartphone applications are quickly becoming the most popular method of buying.
- According to Institut national de la Statistique et des études économiques, a government Agency, in 2021, about 72% of women in France used mobile to access the internet, while 72.3% of males used mobile to access the internet. Between 2009 and 2019, mobile internet usage in France increased consistently among men and women. Due to the pandemic, mobile internet usage increased significantly in 2020 and 2021 compared to 2019 levels.
- Due to the lockdown in France during the COVID-19 epidemic, the E-commerce business has witnessed a tremendous increase. Customers were reluctant to purchase from offline establishments because they were reluctant about contracting COVID-19 through physical money. People pay for products and services via electronic payment, especially mobile payment.
- Mobile payment is the preferred method of making or receiving payments since it provides fast and convenient services. As a result, various sorts of businesses are drawn to sell their goods and services via mobile platforms. Telecommunications companies, grocery stores, and merchants are progressively releasing mobile apps that allow people to purchase online.
- Most first-time digital customers on E-commerce websites make purchases using mobile devices, specifically smartphones. With the growing data analysis tools, merchants may tailor their services to enhance sales. As e-commerce purchases grow more common, the amount paid through mobile transactions will only rise.
