The value of payments by cards with a credit function in France has shown considerable volatility over the past decade. Starting from a high value in 2014, there were significant declines by 2015 and 2016, followed by a notable recovery in 2017. The value witnessed marginal growth in 2018 but then exhibited a steady decline from 2019 onwards. As of 2023, the value stood at 44.56 billion USD, marking a 14.29% decrease year-on-year.
From 2019 to 2023, the compound annual growth rate (CAGR) reflects a decreasing trend, with an average annual decline of 13.78%. Looking ahead, the forecast data indicates a continued downward trajectory, with the value expected to plummet by 83.79% by 2028, reflecting a severe 5-year CAGR of -30.5%.
Future trends to watch for:
- The increasing adoption of alternative payment methods such as digital wallets and mobile payments might further impact the use of credit cards.
- Economic uncertainty or policy changes could influence consumer spending habits and credit card usage.
- Technological advancements and security improvements might stabilize or potentially revive credit card usage in the future.