France Buy Now Pay Later Market Analysis and Investment Report 2022-2028: French BNPL Startups are Expanding their Presence by Launching Services in More International Markets
DUBLIN, Dec. 6, 2022 /PRNewswire/ -- The "France Buy Now Pay Later Business and Investment Opportunities - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics - Q3 2022 Update" report has been added to ResearchAndMarkets.com's offering.
BNPL payments are expected to grow by 38.6% on an annual basis to reach US$17,808.4 million in 2022.
In February 2022, Alma, one of the leading BNPL firms in France, announced that the firm had raised €210 million in a debt and equity funding round. Notably, the firm is planning to use the investment to extend its operations across France, Germany, Spain, Italy, and Belgium. Additionally, the firm is also planning to move into new European markets such as Austria, the Netherlands, Portugal, Ireland, and Luxembourg.
As of February 2022, the firm had partnered with 6,000 merchants, thereby offering consumers the ability to pay in installments for their purchases. While the main product of the firm is pay in two, three,or four installments, Alma also offers pay in ten- and twelve-month plans. However, these options are for specific purchases, such as furniture and consumer electronics. The firm is currently processing €1 billion annually. Moreover, unlike its competitors, the firm does not charge late payment fees.
In 2021, several major BNPL players, such as PayPal, have dropped late fees on BNPL installments. The publisher expects more firms to adopt the strategy as scrutiny around BNPL continues to grow globally. While it might lead to a revenue drop for firms, it will also lead to a more responsible lending behavior among BNPL players.
Consequently, French BNPL startups are considering international expansion to capitalize on the projected growth of the global BNPL market.
In February 2022, Younited Credit, the French BNPL startup, announced that the firm is planning to expand operations into the United Kingdom. Notably, the firm had raised US$368 million in funding as of February 2022 and offered rapid loans up to US$58,000.
The firm reported strong growth in 2021 and has announced its projection of reaching US$5.7 billion in gross merchandise value (GMV) by the end of 2022. Along with France, the firm is also operational in Germany, Italy, Spain, and Portugal, and the United Kingdom is expected to be the sixth market for Younited Credit.
As the competition in the space continues to grow, more firms are expected to expand their presence to drive sustainable revenue growth and compete with global leaders in the BNPL market.
In March 2022, Afterpay, known as Clearpay in Europe, announced that the firm had entered into a strategic collaboration with Thunes, a global cross-border payments platform.
Through this collaboration with Thunes, Clearpay will be able to onboard more merchants and marketplaces onto its platform, thereby assisting the firm in increasing its transaction value and volume.
France Buy Now Pay Later Operational KPIs
France Buy Now Pay Later Market Share Analysis by Key Players (Alma, After Pay, Klarna, Cofidis, Paypal)
France Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
France Buy Now Pay Later in Retail Shopping: Market Size and Forecast
France Buy Now Pay Later in Home Improvement: Market Size and Forecast
France Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
France Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
France Buy Now Pay Later in Other: Market Size and Forecast
France Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
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