The number of payments by cards with a credit function in France has been on a declining trend from 2014 to 2023, starting at 3.16 billion units in 2014 and dropping to 1.15 billion units in 2023. Particularly sharp declines were observed in 2015 and 2016 with -30.53% and -46.84% year-on-year variation, respectively. More recently, from 2021 to 2023, the market continued its downward trend with a year-on-year decrease of -8.05% in 2023. The Compound Annual Growth Rate (CAGR) for the last five years stands at -8.34%, indicating a consistent decline.
Looking ahead, the forecast suggests a continued decline in the number of payments by credit cards through 2028, reaching 0.63 billion units. The forecasted CAGR from 2023 to 2028 is -9.66%, implying a nearly 40% projected reduction over the coming five years.
Future trends to watch for include:
- The growth of alternative payment methods, such as digital wallets and Buy Now, Pay Later (BNPL) services.
- Potential regulatory changes impacting credit card usage.
- Technological advancements in payment methods driving consumer preference.