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Summary of our market study
Online e-commerce sales in France are expected to reach around 160 billion euros by 2023.
The online payments market is growing, driven by the increase in e-commerce activity.
worldwide, online purchases reached $6.7 trillion in 2023, with China leading in terms of volume and the UK dominating in Europe.
Security remains a crucial concern in online payments, with constant innovation aimed at gaining consumer trust.
The Payment Services Directive 2 (PSD2) introduced in Europe requires "strong authentication" to enhance transaction security.
Crypto-currencies are a speculative and marginal payment method.
The market is highly competitive, with established international players such as PayPal, Apple Pay and Google Pay, as well as emerging fintech solutions such as Lydia, which has over a million users.
The payment services market is attracting new fintech players, and is consolidating through mergers and acquisitions by established players such as Worldline and Ingenico.
Demand trends in the French online payment market
Around 60% of the population make online purchases. Around 32% of French people buy less than once a month. The EU average is around 25%.
The French market offers enormous potential.
Credit cards dominate the French market, while other payment methods, such as PayPal or virtual wallets, have a smaller share. Credit cards account for 61% of online transactions, while services such as PayPal account for 29%, and other solutions appear marginal.
The main players in the online payment market
- PayPal: the pioneer
- Ingenico: has acquired Ogone, a major player specializing in online and mobile payment services
- Worldline: a fast-growing competitor Worldline has acquired Banksys, SIX Payment Services and Ingenico
- Lydia: star of the French fintech scene
- Google Pay and Apple Pay
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Summary and extracts
1 Market overview
1.1 Presentation and definition of the online payment market
In 2018, the French spent 90 billion on the Internet [ FEVAD All of these purchases were made possible thanks to online payment solutions, which therefore make it possible to pay and exchange money over the Internet using a computer system.
E-commerce is driven by broadening the offer in Europe and the increase in the number of sites as well as by the development of marketplaces. Faced with this rise in online purchases, there are more and more online payment players and innovation is key to gaining market share. One of the key factors of success in this market is the security of payments to gain the confidence of merchants on the one hand, and private individuals on the other.
European and international competition is intense with players such as Paypal and Amazon Pay that are solidly implanted. Besides.., VISA offers a new system of reloadable smart cards allowing online payment for blocked amounts
Giants like Google and Apple also offer online payment solutions ( Google Pay and Apple Pay ) while fintechs The Banque de France's financial markets, which are sometimes supported by the major French banks, as is the case with Paylib s, are proposing alternative solutions. Among the Sector's start-ups, Lydia posted record growth and already had more than of one million users in 2018 .
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the online payment market | France
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