France Remittance Market Outlook to 2027
By Inbound & Outbound Remittance, By Channels (Banks, MTOs, M-wallets and Others), By Inflow & Outflow Remittance Corridors, By Point of Contact (Branch Pick-up, Mobile Payment & Online Transactions, Prepaid Cards)
December 2022
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About the Report
About the Report
Market Overview:
France Remittance Market is moderately concentrated and in the growth stage. The market includes both formal and informal payment service providers including banks, money transfer operators, mobile wallets, postal networks. The market has been fueled by increased migration, increasing government support for new competitors, improved banking knowledge and increased awareness towards digitalized remittance services in the space. The market has displayed a steady growth in terms of transaction value supported by an increase in both inbound and outbound remittances. The total transaction value has expanded displaying a CAGR of close to ~%. This was majorly fueled by a rise in the outbound remittances, which is led by a stronger growth in the employment prospects in euro area. Moreover, the appreciation in the currency is also a supportive factor for such growth of remittances in the region.
- Growth in mobile-based payment channels and cross-border transactions and deduction in remittance transfer time & cost propels the growth of the market.
- Adoption of digital remittance is projected to reduce the dependency on cash agents in both the sending and receiving countries, who currently contributes to sustaining high transaction fees.
- The increasing numbers of startups in Fintech industry are expected to push the cost of fund transfers down in the coming years. All this will be complimented by increased security checks and safety regulations, as have already been started by DBS bank.
Key Trends by Market Segment
By Channel: Choice of a remittance channel depends on the ease of access for payer and payee, cost involved, range of products and services offered, amount of remittance and similar. In the recent years, France’s inbound remittances are majorly channeled through banks. As of 2022P, banks dominate the inbound remittance market in terms of volume of transactions followed by MTOs, m-wallets and other channels including postal networks, credit union and informal channels.
By Point of Contact: The inbound remittance market is dominated by branch pick-ups and mobile & online transactions equally followed by prepaid cards in terms of remittance transaction volume.
Competitive Landscape
The France market is moderately concentrated with majority of the market being captured by MTOs & Banks. There are 5 major MTOs in the market namely Western Union, MoneyGram, Ria Money Transfer, Transferwise and UAE Exchange. 4 major Banks include HSBC Bank, Lloyds Bank, BNP Paribas and Barclays Plc. Major m-wallet in the region is Xoom by Paypal. Major competing parameters for the entities include fees charged, transfer speed, services offered, reach of the service providers, payout networks, and trust value attached, technological advancements, promotional offers and transparency in costs.
Future Outlook
The inbound remittance is expected to showcase a CAGR close to ~% and the outbound remittance is anticipated to showcase a CAGR close to ~% by value of transactions ~. In terms of volume of transactions, the inbound remittance is expected to register a CAGR close to ~% and the outbound remittance is expected to showcase a CAGR close to ~% during the same period.
Key Topics Covered in the Report
- Market Ecosystem
- Market Overview
- Market Size on the Basis of Transaction Value
- Market Size on the Basis of Transaction Volume
- Market Size on the Basis of Average Transaction Size
- Market Segmentation by Remittance Channels (Volume of Transactions)
- Outbound Remittance Market Segmentation by Remittance Channels (Volume of Transactions)
- Inbound Remittance Market Segmentation by Remittance Receiving Countries (Value of Transactions)
- Outbound Remittance Market Segmentation by Remittance Sending Countries (Value of Transactions)
- Inbound Remittance Market Segmentation by Point of Contact (Volume of Transactions)
- Market Segmentation by Top Flow Corridors (Value of Transactions)
- Snapshots of France Payments Market
- Regulatory Landscape in France Remittance Market
- Decision Making Process and Pain points in France Remittance Market
- SWOT Analysis in France Remittance Market
- Competition Scenario in France Remittance Market
- Strengths and Weaknesses of Major Players in France Remittance Market
- Company Profile of Major Players
- Future Outlook and Projections
- Analyst Recommendations
Scope Of The Report
Scope of the Report
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By Inbound Remittance Flow Corridor |
|
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On the Basis of Channels (Volume of Transactions) |
Banking channels MTOs M-Wallets Others
|
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On the Basis of Inflow Countries (By Value of Transactions) |
Italy Poland Portugal Romania United Kingdom Other EU-28 Countries |
|
On the Basis of Channels (Volume of Transactions) |
Banking channels MTOs M-Wallets Others |
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On the Basis of Outflow Countries (By Value of Transactions) |
Germany Spain France Italy United Kingdom Other EU-28 Countries |
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By Point of Contact (By Volume) |
Branch Pick-up Mobile Payment & Online Transactions Prepaid Cards |
Products
Products
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Banks
- Money Transfer Operators
- M-Wallet Companies
- Hawalas
- Convenience and Retail Stores
- Supermarket Chains
- Bills and Payments Companies
- Investors & Venture Capital Firms
- Government Bodies
Period Captured in the Report
- Historical Period: 2017-2021
- Base Period: 2022
- Forecast Period: 2023-2027F
Companies
Major Companies Profiled in the Report
- HSBC Bank
- Lloyds Bank
- BNP Paribas
- Barclays Plc
- Deutsche Bank
- Bank of China
- Credit Agricole
- BBVA Dinero Express
- Unicredit Banca
- Western Union
- Money Gram
- Ria Money Transfer
- Transferwise
- UAE Exchange
- World Remit
- Metro Remittance
- Azimo
- RemitGuru
- Xoom by Paypal
- Skrill
- Neteller
- Postbank
- La Poste and PosteItaliane
Table of Contents
Table of Contents
1. Executive Summary
2. France Remittance Market Overview
2.1 Taxonomy of the France Remittance Market
2.2 Industry Value Chain
2.3 Ecosystem
2.4 Government Regulations/Initiatives for the France Remittance Market
2.5 Growth Drivers of the France Remittance Market
2.6 Issues and Challenges of the France Remittance Market
2.7 Impact of COVID-19 on the France Remittance Market
2.8 SWOT Analysis
3. France Remittance Market Size, 2017 – 2022
4. France Remittance Market Segmentation
4.1 By Channel, 2017 – 2022
4.2 By End User, 2017 –2022
4.3 By Regional Split (North/East/West/South/Central), 2022 - 2027
5. Competitive Landscape
5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles – (Top 5 - 7 Major Players)
5.3.1 HSBC Bank
5.3.2 Lloyds Bank
5.3.3 BNP Paribas
5.3.4 Barclays Plc
5.3.5 Deutsche Bank
5.3.6 Bank of China
5.3.7 Credit Agricole
6. France Remittance Future Market Size, 2022 – 2027
7. France Remittance Future Market Segmentation
7.1 By Channel, 2022 - 2027
7.2 By End User, 2022 - 2027
7.3 By Regional Split (North/East/West/South/Central), 2022 - 2027
8. Analyst Recommendations
9. Research Methodology
10. Disclaimer
11. Contact Us
Research Methodology
Research Methodology
Step 1: Identifying Key Variables:
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Step 2: Market Building:
Collating statistics on used car and new car over the years, penetration of car finance and down payment ratio to compute overall credit disbursed for cars. We will also review central bank statistics to understand credit disbursed and outstanding amount which can ensure accuracy behind the data points shared.
Step 3: Validating and Finalizing:
Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Step 4: Research output:
Our team will approach multiple finance providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from car finance providers.
Frequently Asked Questions
Frequently Asked Questions
01 What is the Study Period of this Market Report?
The France Remittance Market is covered from 2017-2027 in this report, which includes a forecast for the period 2023-2027.
02 What is the Future Growth Rate of the France RemittanceMarket?
The France Remittance Market is expected to witness a CAGR of about ~% over the next 5 years.
03 What are the Key Factors Driving the France Remittance Market?
Growth in mobile-based payment channels and adoption of digital remittance are the growth drivers of the France Remittance Market.
04 Which is the Largest channel (volume) segment within the France Remittance Market?
Banking channel segment held the largest market share of the France Remittance market.
05 Who are the Key Players in France Remittance Market?
HSBC Bank, Lloyds Bank, BNP Paribas, Barclays Plc, Deutsche Bank are some of the key players in the market.
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