Summary of our market study
The global market for electronic payment terminals (EPTs) is estimated at over $80 billion, with average annual growth of 7%.
This momentum is fueled by the growing preference for card over cash payments, technological advances such as mPOS and SoftPOS payment terminals, and value-added services that help businesses manage revenue and inventory.
The French market for electronic payment terminals
The number of payment terminals in France has risen from 1.5 million devices in 2016 to around 3 million.
The growth in cashless payment methods correlates with the increase in the number of bankcards, which has risen from around 60 million in 2012 to around 80 million.
Mobile payment has rapidly gained ground in France. Mobile payments are not subject to the legal limit present in contactless card transactions.
Card payments account for 60% of the volume of cashless transactions, but represent only 1.8% of total cashless payments in terms of value. In terms of value, credit transfers account for 92%.
Contactless payments by card and mobile device, e-wallets and QR code payments are becoming more widespread
Mobile payments account for 6% of contactless transactions by volume.
Over 80% of French people have already used contactless payment cards, and a majority of them also make online payments.
Fintechs are now competing with traditional players.
Players in the global electronic payment terminal market
- Ingenico - Originally from France, Ingenico has long been a giant in the payment terminal industry. Ingenico is now part of Worldline.
- Verifone - This U.S.-based company is one of the world's market heavyweights
- SumUp is a leading fintech company that has changed the game by specifically addressing the needs of small and medium-sized businesses with its mobile payment solutions
- iZettle - Acquired by PayPal, iZettle has built a reputation for its user-friendly, cost-effective payment solutions.
- Smile & Pay - A French fintech company, Smile & Pay exemplifies the innovative spirit of new entrants disrupting the POS market.
- Qquare - Square has made a pronounced impact on the market thanks to its distinctive reader and mobile application, which transforms smartphones into powerful sales processing units.
- Yavin - Another French player in the market, Yavin offers versatile electronic payment solutions
- Famoco - Another French player, Famoco focuses on mobile solutions.
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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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the payment terminal market | France
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