WealthTech and PayTech dominate French app stores in Q1 2022

  • WealthTech and PayTech services accounted for 90% of the 10 most downloaded FinTech apps in France during Q1. impots.gouv, a French government tax management app, was the only exception. FinTech apps in France are growing in popularity with total downloads increasing 31% QoQ for the top apps showing a clear shift in the way French consumers are managing their finances.
  • PayPal, an online payments system, was the most downloaded FinTech app in France in the first quarter of 2022 with just over 1m downloads and has grown 24% QoQ. In total PayPal has been downloaded an estimated 11.5m times which for size comparison is 17% of the French population.
  • France’s total transaction value for digital payments is expected to reach $190bn in 2022 and has a compound annual growth rate (CAGR) of 16.1% from 2022 – 2026. This rate is slightly higher than the UK’s CAGR over the same period of 15.7% although the UK has a much larger total transaction value projection of $436bn for 2022. Payment methods in France are still dominated by cards with 53% of online transactions, while E-wallets accounted for 25%.

The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global

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