France Buy Now Pay Later (BNPL) Services Market Report 2022: Market Expected to Grow 57% Annually – Growth, Trends, Impact of COVID-19 and Forecast to 2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “France Buy Now Pay Later Services Market – Growth, Trends, Impact of COVID-19 and Forecast (2022-2027)” report has been added to from ResearchAndMarkets.com offer.

BNPL payments in France are expected to grow by 57.0% annually.

The medium to long-term growth story of the BNPL industry in France remains strong. The adoption of BNPL payment is expected to grow steadily over the forecast period.

The Covid-19 pandemic has turned people to online shopping, increasing digital payments and making it easier to conduct tax-free loans. 71% have purchased more items online since the pandemic. Clothing and electronics are the main products purchased by the BNPL service.

Consumers are increasingly comfortable with BNPL (buy now, pay later) services in France. This has led to the growing and widespread adoption of deferred payment method among consumers across the country. The presence of several BNPL products, including those from global BNPL giants such as Klarna and PayPal, has also contributed to the industry’s adoption and growth in recent quarters.

As the use of the BNPL payment method continues to increase for online purchases in the country, BNPL vendors are launching niche BNPL services to gain market share in the French deferred payment industry. Additionally, as the industry continues to grow over the next four to eight quarters, the publisher expects more niche BNPL product launches in the French BNPL market.

Main market trends

Affordable and convenient payment service from Buy Now Pay Later platforms

The buy now pay later payment method provides people with many advantages such as affordable and convenient payment services and credit card instant funds transfer service on the POS platform and increases the security of personal information, driving market growth buy now pay later.

Additionally, the buy it now, pay later platform supports a QR code option that allows individuals to make payment via scan code and authorize the transaction with UPI methods, which propels also market growth. Additionally, the Buy Now Pay Later platform helps consumers make secure payments without swiping a debit card, which is driving the market growth across the globe.

Also, reminding repayment, improving credit scores of individuals and monitoring transaction details digitally are some of the prominent benefits offered by the buy it now, pay later platform which is accelerating the growth of the global market.

Retailers and merchants are widely accepting the payment technology platform buy now, pay later due to increased revenue for the organization by selling low priced products at a higher rate and providing a method of installment repayment.

These advantages offered by buy now, a platform for consumers and merchants, propel the growth of the market globally.

Increased adoption of online payments

Increasing adoption of online payment methods among people in developing countries is accelerating the growth of the buy now, pay later market.

Mobile payment, debit cards and credit cards are the main digital payment technologies that offer many advantages such as reducing transaction costs, streamlining remittance services and increasing payment security. payments, thereby enhancing the growth of the buy it now, pay later market.

The availability of high-speed internet connectivity, an increase in the adoption of smartphones, and an increased awareness of digital payment services are some of the important factors driving people’s adoption of online payment technology.

Additionally, the growing use of smartphones and increase in faster connectivity has made it possible for retailers and customers to receive and make payments through a digital platform, which is propelling the growth of the industry of buy it now, pay later.

As the use of the BNPL payment method continues to increase for online purchases in the country, BNPL vendors are launching niche BNPL services to gain market share in the French deferred payment industry. Additionally, as the industry continues to grow over the next four to eight quarters, the publisher expects more niche BNPL product launches in the French BNPL market.

Competitive landscape

BNPL is becoming an increasingly popular payment method for customers to make purchases in-store and online. Many retailers are focusing on accepting these point-of-sale and online installment loans as payment methods, creating growth opportunities for BNPL solution providers.

The growing e-commerce industry is expected to drive the market growth over the forecast period.

Some major players in France BNPL are

  • Alma

  • Klarna

  • Scalapay

  • Clearpay

  • PayPal

  • Credit Younited

  • Separate it

  • Uprising

  • Sezzle

  • Coins

For more information on this report, visit https://www.researchandmarkets.com/r/r6q41j

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