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Summary and extracts
1 Market overview
1.1 Definition and scope of study
An electronic payment terminal (EPT) is a device that is becoming almost indispensable for retailers worldwide. The classic model consists of a casing, a screen, a keyboard and a card reader. More and more innovative forms of Eftpos terminals are also appearing, such as mobile Eftpos terminals, which are used in particular by companies on the move.
This TPE brings together the 4 parties required for a transaction:
-The cardholder
-The merchant
-The merchant's bank
-The cardholder's bank
This connection guarantees the effectiveness of the payment, unlike payment by cheque, for example, which is a security feature for the merchant. What's more, as consumers carry less and less cash, merchants are obliged to adapt and offer payment by card.
But these payment terminals are subject to commissions on transactions: these generally depend on the type of card used (debit, credit, prepaid...), the country of issue, and the network (VISA, Mastercard, American Express...). The average commission rate is between 0.5% and 2.5%.
Lhe size of the global payment terminal market between2023 to 2031, is predicted to grow significantly, from USD 93.17 billion in 2023 to a projected USD 184 billion in 2031, almost doubling in size in less than 10 years.
As far as the French market is concerned, barely more than one in two merchants has an EFTPOS terminal, but a strong trend towards digitalization is driving fintechs to position themselves in this segment.
Among the players in this sector are the giants Ingenico (France) and Verifone(USA), as well as fintechs such as iZettle, SumUp and Smile & Pay. Since July 26, 2024, and the experience of Paris 6's Carrefour Market, we've been talking about a new trend: biometric payment.
1.2 The global market
the chart shows a steady evolution in the size of the global payment terminal market from **** to ****, rising from **.** billion USD in **** to a projected *** billion USD in ****, almost doubling the market size in less than ** years.
This robust growth reflects the rise of digital payments and the transition to cashless ...
1.3 Domestic market
To estimate the size of the French payment terminal market, we can multiply the number of payment terminals in France (***).
Thus, for ****, we obtain the following calculation:
(***) = *.** billion euros
The same applies to other years:
Market size trend for payment terminals in France France, **** - ****, in billions of euros Source: ...
2 Demand analysis
2.1 Increase in the number of payment terminals and bankcards
Number of electronic payment terminals in France France, **** - ****, in number of units Source: ****
The boom in electronic payment terminals (***) in France is spectacular: between **** and ****, their number more than doubled, from *.* million to over * million. This steady increase reflects the massive digitization of points of sale, a sign of the ...
2.2 Payment methods used
Amounts of means of payment used by households in France France,****-****, in billions of euros Source: ****
The graph shows a marked transformation in the payment habits of French households between **** and ****. The main trend observed is the maintenance or even increase in the use of cash, which rises from *** billion ...
2.3 Focus on credit card payment
The following graph shows the breakdown of bankcard use by sector, in terms of number of transactions. This breakdown includes all bankcard payments, whether physical (***). It does, however, enable us to identify trends in the sectors where bankcards, and thus payment terminals, are most widely used.
In terms of the number ...
2.4 Focus on contactless payment
By ****, contactless payment has truly established itself as the preferred method for local transactions. It accounted for **% of bankcard payments, compared with just **% in ****, marking even faster adoption.
With over **.* billion transactions (***), the total amount of contactless payments reached *** billion euros, up **% on the previous year. Despite this surge, the average ...
2.5 Focus on mobile payment
Mobile payment is rapidly gaining in popularity in France, gradually establishing itself as a genuine alternative to traditional payment methods.
In ****, **% of French people said they would use this payment method in stores, an *-point increase on the previous year. The **-** age group in particular is massively adopting this technology, ...
2.6 Cash payment
In the Eurozone, against all the odds, cash payments are still very popular. Let's take a look at this astonishing phenomenon, which reflects a trend in most European countries, particularly France.
Which payment method is most widely accepted in the Eurozone? Euro zone, ****, in Source: ****
Despite a gradual decline,cash remains ...
3 Market structure
3.1 Overview of payment solutions
This section aims to give an overview of the payment environment in France, and the place of payment terminals in this environment.
Payment is a transaction that takes place between a buyer and a beneficiary. With the exception of cash payments, payment transactions call on one or more intermediaries to ensure ...
3.2 Card payment via a payment terminal
Several players are involved in the act of paying by card in a "physical place" (***):
The buyer of the good or service The merchant The issuer's bank (***) The acquirer's bank (***) External service providers, who supply the payment terminals and mediate the transaction
Thus, the merchant's bank transmits a payment authorization request ...
3.3 The VSE market still dominated by incumbents, but disrupted by fintechs
The payment terminal market is currently dominated by traditional players. However, fintechs are becoming increasingly present, modernizing the offering (***)
The emergence and development of new payment methods is turning the payment terminal market upside down, and fostering the emergence of new players in the sector. These new payment methods include contactless ...
3.4 VSE distribution
Payment terminals cannot be distributed to private individuals. To obtain an EFTPOS terminal, you need to be a professional, a company or an association, and have a SIRET number. note that micro-entrepreneur status is sufficient to obtain this number. [***]
There are several distribution channels for electronic payment terminals:
Fintechs (***). From traditional ...
4 Offer analysis
4.1 Offer typology
The TPE offer is divided into * models: purchase and rental. According to Crédit Agricole, an Eftpos terminal costs between *** and *** euros. Prices vary according to options (***), and whether the equipment is new or used. To rent an Eftpos terminal, you'll need between ** and ** euros per month, depending on the model ...
4.2 mPOS terminals
MPOS terminals:
The mPOS terminal, initially developed and marketed by startups, consists of a mobile payment terminal that requires connection to a tablet or smartphone via Bluetooth. Over the last few years, this solution has become increasingly popular, particularly with micro, small and medium-sized businesses, as well as mobile retailers (***)
This ...
4.3 SoftPOS terminals
SoftPOS terminals:
The next evolution in the payment terminal market is "SoftPOS". SoftPOS is a solution that uses a smartphone or tablet as a payment terminal. It is a software solution, in the form of a mobile application, enabling contactless payments to be accepted from NFC cards or e-wallets on a ...
4.4 Wero, a danger for payment terminals?
The launch of Wero, an interbank payment solution supported by fourteen European banking groups, marks a major turning point in the European financial transactions market. The service, designed to simplify money transfers between individuals without requiring IBAN entry, aims to compete directly with digital payment giants such as PayPal and Apple ...
4.5 Biometrics, the future of payment terminals
The integration of biometrics in the payments sector is no longer a simple innovation, but a veritable revolution. Historically used for security reasons, biometric authentication is now positioned as a new standard in the payment experience, combining simplicity, speed and, above all, enhanced security.
The idea is to replace PIN codes ...
5 Regulations
5. Regulations
The payment market is governed by an extensive and strict regulatory framework. Listed below are the main regulations concerning payment terminals:
The law authorizes professionals and associations to own an electronic payment terminal. To do so, professionals and associations must have a Siret number. Private individuals, on the other hand, are ...
5.2 Recent regulations
Regulation on instant payments (***): Adopted earlier this year, this regulation requires all payment service providers and electronic money institutions in the EU to offer instant transfers in euros, executed in less than ** seconds, **/*. Charges for these transactions must be equivalent to those for standard SEPA credit transfers, ensuring maximum accessibility for ...
6 Positioning the players
6. Segmentation
- Ingenico
- Verifone
- PAX Technology
- Smile & Pay
- Apple
- Zettle
- Dejamobile
- Preludd Payment
- SumUp
List of charts presented in this market study
- Number of electronic payment terminals in France
- Number of card payments made using electronic payment terminals
- Value of card payments made using electronic payment terminals
- Number of French bankcards
- Share of mobile payments among proximity card payments
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Latest news
Payments:SumUp raises $100 million - 11/12/2023
- SumUp made a name for itself with its small mobile payment terminals for the self-employed,
- The company has expanded its range to include cash registers, a SuperApp offering a business account, online store and invoicing solution, and, in the UK, order kiosks and cash advances.
- sumUp has teamed up with Apple to offer Tap to Pay on iPhone in France, the UK and the Netherlands, as part of its iOS application.
- SumUp, a fintech of British origin, claims 4 million independent customers and small merchants worldwide.
- It has announced a new round of financing of 285 million euros.
- SumUp is now present in 36 countries.
- In 2021, SumUp acquired the American FiveStars, a payment platform for small businesses.
- The company's last fundraising round, which took place in June 2022, amounted to €590 million.
- Total funds raised by the fintech since its inception in 2012 amount to 1.785 billion euros.
- SumUp's valuation was estimated at $4.1 billion (€3.8 billion) last October.
- It has posted steady revenue growth of over 30% and expects to be profitable by 2024.
SumUp: The Card Payment Revolution. - 11/12/2023
- Fintech SumUp serves 4 million corporate customers.
- SumUp is recording annual growth of +30% and has multiplied its transaction volumes by 10 since 2018.
- SumUp has raised €285 million from investment fund Sixth Street Growth.
- The portable payment terminals are inexpensive, with first prices starting at 39 euros.
- SumUp transactions are billed at a flat rate of 1.75%.
- In 2022, 65% of payments in France were made by bankcard, an increase of 8% on 2021.
- Crédit Agricole has its Up2pay solution, and Banques Populaires has Smile&Pay as competing products.
- Payment company Ingenico is France's leader in traditional payment terminals.
- Chinese manufacturer Pax, with its aggressive pricing, is increasingly present in France.
Electronic payments: Preludd Payment Services acquires Canadian company Amadis - 18/06/2023
- Preludd Payment Services founded in 2016
- Connects 290,000 payment terminals in France and handles 80 million calls per month
- 7.4 billion euros in transactions routed to banks
- Preludd sales in 2022: 2.5 million euros, 40 employees
- Acquisition of Canadian company Amadis, present in some twenty countries
- Amadis sales in 2022: 2.3 million euros, 15 employees
- New entity employs 60 people Expected sales in 2023: 6.3 million euros
Virtual reality headsets, new Macs - 05/06/2023
- Apple plans to unveil its first virtual and augmented reality headset.
- The headset is expected to cost $3,000
- Apple expects to sell around 900,000 units in the first year
- Several Mac and iPhone applications will be integrated into the headset, such as Camera, Contacts, FaceTime, Email and Messages, Maps, Notes, Music, Photos, Safari and Weather.
Ingenico and Binance test in-store payment with cryptos - 22/02/2023
- Binance: the cryptoasset giant
- Ingenico: the payment terminal specialist
- The solution has been tested in 2 locations in Paris 50 cryptocurrencies available
Ingenico finds a new lease of life after leaving Worldline - 01/12/2022
- World leader in the sector
- 40 million terminals in 170 countries
- Worldline retained Ingenico's merchant services business, but sold its terminals business to the American fund for 2.3 billion euros
- The company offers 250 payment solutions (from credit cards to AliPay, palm recognition terminals, etc.)
- PPaaS platform offers a suite of payment solutions and services for merchants
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the payment terminal market | France
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