Upload
others
View
1
Download
0
Embed Size (px)
Citation preview
BREAKDOWN OF THE USE OF NON-CASH PAYMENT INSTRUMENTS
2017
2018 assessment (2017 data)
Banque de France 39, rue Croix-des-Petits-Champs – 75001 PARIS
Managing Editor: Nathalie Aufauvre, Director General Financial Stability and Operations
Technical production: Press and Communication
Breakdown of the use of non-cash payment instruments | 2017 data 3
2018 assessment (2017 data)
Table 1 Breakdown of non-cash payments in 2017(number of transactions in millions, value of transactions in EUR billions, average transaction value in EUR, change in %)
Non-cash paymentsNumber of transactions Value of transactions
Average value2017 2017/2016 change
2017 2017/2016 change
Card paymentsa) 12,581 +13 530 +6 42Direct debits 4,091 +3 1,579 +6 386Credit transfers 3,870 +3 24,069 +2 6,220
o/w large-value transfersb) 10 +5 9,482 -6 977,085Cheques 1,927 -10 1,002 -7 520LCR/BORc) 81 -2 260 -2 3,217Electronic money 55 +45 1 +52 16Total 22,605 +7 27,441 +2 1,213
Card withdrawals 1,481 -1 135 +4 91
Source: Banque de France.a) Card payments made in France.b) Large-value transfers made through large-value payment systems (Target2 and EURO1). They correspond exclusively to professional payments.c) LCR: Lettre de change relevé (electronic trade bills); BOR: Billet à ordre relevé (electronic promissory notes).
1| Use of non-cash payment instruments in France
In 2017, the volume of non-cash payments (in number of transactions) rose by 7% to more than 22 billion, while their total value increased by 2% to reach EUR 27,441 billion.
This increase was mainly driven by a rise in e-payments (card payments, credit transfers, direct debits), while the use of national payment instruments, such as cheques and trade bills, continued the downward trend observed since the 2000s (respectively down 10% and 2% in volume and down 7% and 2% in value).
As in previous years, payment cards remained the most popular method of payment in France,
Chart 1 Breakdown of the number of transactions by payment instrument in France(%)
Chart 2 Volume of transactions by payment instrument in France(billion transactions)
18
179
< 1< 1
56
ChequesLCR/BORa)
Electronic money
Card paymentsDirect debitsCredit transfers
0
2
4
6
8
10
14
12
2006 2007 2008 2009 2010 201320122011 2014
Cheques
Electronic moneyCard payments
LCR/BORa) Card withdrawalsDirect debits
Credit transfers
2015 2016 2017
Source: Banque de France.a) LCR: Lettre de change relevé (electronic trade bills); BOR: Billet à ordre relevé (electronic promissory notes).
Source: Banque de France.a) LCR: Lettre de change relevé (electronic trade bills); BOR: Billet à ordre relevé (electronic promissory notes).
accounting for more than half (56%) of non-cash payments. However, the average value of an individual card payment was relatively modest, falling slightly to EUR 42 in 2017 from EUR 45 in 2016 and EUR 49 in 2015; this decline can be attributed to the sharp growth in contactless payment (EUR 12 on average).
While the number of card withdrawals declined over the year, the average amount withdrawn increased to EUR 91 in 2017 from EUR 89 in 2016 and EUR 84 in 2015. This could be attributed to the increased use of contactless payments for small purchases, which means fewer cash withdrawals from ATMs.
Breakdown of the use of non-cash payment instruments | 2017 data4
2018 assessment (2017 data)
Chart 4 Total value of transactions excluding credit transfers in France(EUR billions)
ChequesLCR/BORa)
Electronic money
0
500
1,000
1,500
2,000
2,500
Card paymentsDirect debits
2007 2008 2009 2010 2011 2012 2013 2016 201720152006 2014
Source: Banque de France.a) LCR: Lettre de change relevé (electronic trade bills); BOR: Billet à ordre relevé (electronic promissory notes).
Chart 5 Total value of credit transfers in France
(EUR billions)
2007 2008 2009 2010 2011 2012 2013 2016 201720152006 201417,000
18,000
19,000
20,000
21,000
22,000
23,000
24,000
25,000
Source: Banque de France.
In 2017, credit transfers accounted for 88% of the total value of non-cash payments (35% for large-value transfers (LVT) and 53% for other transfers), but only 17% of the total volume of transactions. These figures were stable compared to previous years.
Credit transfers are thus mainly characterised by large-value transactions of over EUR 1 million for credit transfers via the large-value payment systems Target2 and EURO1, and EUR 3,779 for SEPA transfers.
Lastly, as a result of the rise in peer-to-peer payment services (particularly through mobile phone applications), the value of e-money transactions
Table 2 Average transaction amount by non-cash payment instrument in France(EUR)
Non-cash payments Average value in 2017
Large-value transfers (LVT) 977,085
Other credit transfers 3,779
LCR/BORa) 3,217
Cheques 520
Direct debits 386
Card payments 42
Card withdrawals 91
Electronic money 16
Source: Banque de France.a) LCR: Lettre de change relevé (electronic trade bills); BOR: Billet à ordre relevé (electronic promissory notes).
Chart 3 Breakdown of the value of transactions by payment instrument in France(%)
ChequesLCR/BORa)
Electronic moneyCard payments
Direct debits
Other credit transfersLarge-value transfers (LVT)
36
1 2
3553
Source: Banque de France.a) LCR: Lettre de change relevé (electronic trade bills); BOR: Billet à ordre relevé (electronic promissory notes).
has also significantly increased; however, the use of e-money remains modest compared to other means of payment, both in terms of the total value of payments (1 billion euros) and average transaction amount (16 euros).
Interbank payment systems remain the preferred channels of exchange. They account for 74% of the total volume of payments (mainly via retail payment systems) and 65% of the total value (34% for large-value payment systems and 31% for retail payment systems). Intrabank transactions (within the same institution) account for 15% of the total volume of payments and 22% of the total value; intragroup transactions (within the same banking group) account for 10% of the total volume of
Breakdown of the use of non-cash payment instruments | 2017 data 5
2018 assessment (2017 data)
Chart 6 Breakdown of the volume of transactions by channel of exchange and payment instrument(%)
82
70
42
64
74
8
15
49
27
15
9
15
6
7
10
Credit transfers
Direct debits
Total2017
2016
2017
2016
2017
2016
2017
2016
2017
2016
2017
2016
2017
2016Cheques
Card withdrawals
Card payments
LCR/BORa)
Large-value payment systemsRetail payment systems
0 20 3010 70 905040 60 80 100
Intrabank transactionsIntragroup transactions
Outside the system
1
3
1
2
79 6 14 1
77 14 9
Source: Banque de France.a) LCR: Lettre de change relevé (electronic trade bills); BOR: Billet à ordre relevé (electronic promissory notes).
Chart 7 Breakdown of the value of transactions by channel of exchange and payment instrument
(%)
0 20 3010 70 905040 60 80 100
43
34
77
78
83
75
36
22
31
13
7
7
13
58
22
22
9
14
9
11
6
3
5
1
1
1
1
10
8
2016
2017
2016
2017
2016
2017
2016
2017
2016
2017
2016
2017
2016
2017
Cheques
LCR/BORa)
Card payments
Direct debits
Card withdrawals
Credit transfers
Total
Large-value payment systemsRetail payment systems
Intrabank transactionsIntragroup transactions
Outside the system
Source: Banque de France.a) LCR: Lettre de change relevé (electronic trade bills); BOR: Billet à ordre relevé (electronic promissory notes).
payments and 5% of the total value. Finally, interbank transactions outside payment systems represent 1% of the total volume of payments and 8% of the total value. The breakdown is overall homogeneous between the different payment methods, with the exception of card withdrawals. In fact, banks’ policy of charging for withdrawals
made outside their networks means that a large share are intrabank transactions (which represent 49% of the volume of transactions and 58% of the value).
Between 2015 and 2016, the breakdown of payments by channel of exchange remained relatively stable, both in terms of volume and value.
Breakdown of the use of non-cash payment instruments | 2017 data6
2018 assessment (2017 data)
Chart 8 Breakdown of the volume of transactions by payment instrument and geographical area(%)
Chart 10 Breakdown of the volume of transactions by payment instrument and country (%)
01020304050607080
100
France EuropeanUnion
Euroarea
UnitedKingdom
Germany
902 3
1<1 3 4 <1<1
1 2 1
Card paymentsDirect debitsCredit transfers
OthersCheques
Electronic money
56 52 44
70
21
18 1923
14
49
17 24 24
1529
9
01020304050607080
100
Total Cardpayments
Directdebits
Transfers Cheques
90
FranceUnited KingdomGermany
ItalyOther
BelgiumNetherlandsSpain
16 18 16 12
7222
3017
14
15
166 41
20
1
3 3
2
5
6 6
5
7
6 6
9
4
2
5 4
3
4
626 27
7
35
4
Source: European Central Bank. Source: European Central Bank.
Chart 9 Breakdown of the value of transactions by payment instrument and geographical area(%)
Chart 11 Breakdown of the value of transactions by payment instrument and country (%)
01020304050607080
10090
2 1 1 11 13 5 7
3 2 1 <111<1
1 <11
6
88 94 91 97 92
France EuropeanUnion
Euroarea
UnitedKingdom
Germany
Card paymentsDirect debitsCredit transfers
OthersCheques
Electronic money
01020304050607080
10090
10 18 178
35
3735
17 38
20
19 9 44 19
2 3
1
28
4
39
45
74
36
53
17 206
17
45
Total Cardpayments
Directdebits
Transfers Cheques
FranceUnited KingdomGermany
ItalyOther
BelgiumNetherlandsSpain
Source: European Central Bank. Source: European Central Bank.
2| Use of non-cash payment instruments in Europe
card payments (30% of the total volume and 35% of the total value) and transfer payments (14% of the total volume but 38% of the total value).
In 2017, Germany and France both ranked 2nd in the EU behind the United Kingdom for the use of non-cash payments in terms of the number of transactions, and 2nd and 3rd respectively in terms of the total value of transactions. In addition, France stands out as the biggest user of cheques, since it issues 72% of the number of cheques in the EU, far outstripping the United Kingdom (15%) and Italy (6%).
In the European Union (EU), and in all individual countries, payment cards remained the most widely used non-cash payment instrument; the only exception is Germany, where direct debits predominate (accounting for 49% of transactions). Germany thus accounts for 41% of the total number of direct debits carried out in the EU, followed by the United Kingdom (17%) and France (16%).
The United Kingdom accounts for the highest share of non-cash payments in the EU, both in terms of volume (22% of the European total) and value (37%). It accounts for a particularly large share of
Breakdown of the use of non-cash payment instruments | 2017 data 7
2018 assessment (2017 data)
The migration to SEPA has made it possible to carry out cross-border credit transfers and direct debits, by harmonising rules for sending and receiving payments.
Credit transfers are the payment instrument that generates the vast majority of cross-border flows, accounting for 99% of the total value of cross-border payments.
The main recipients of credit transfers sent from clients of French institutions are Germany (38%
or EUR 1,480 billion), the United Kingdom (32% or EUR 1,230 billion) and the Netherlands (7% or EUR 270 billion). On the receiving side, European data are biased by the lack of data provided by the United Kingdom, which limits the scope of the analysis. It should nevertheless be noted that, excluding the United Kingdom, Germany is the largest sender of credit transfers to France (EUR 1,151 billion in 2017), followed by the Netherlands (EUR 542 billion) and Belgium (EUR 296 billion).
Chart 12 Total value of credit transfers between France and other EU countries (EUR billions)
Credit transfers sent from France Credit transfers received in France
1,480
1,151
na
1,230
270
542
228296
215158
170 132
104
222
33 16
27na
2788
21na
1719
16 37
15 32
12 12
9 8
7 7
3 4
2 2
2 5
2 1
2 1
2 1
1 1
1 1
1 1
1 1
Source: European Central Bank.
Breakdown of the use of non-cash payment instruments | 2017 data8
2018 assessment (2017 data)
Chart 13 Total value of direct debits between France and other EU countries (EUR millions)
Direct debits sent from France Direct debits received in France
0
0 0
0 0
0 0
0 0
0 0
0 0
1 12
18,227
2,535
3,090
381 na
26,553
2,95
921116
902427
53642
43318
163232
2179
036
31 1
26 na14 na
na
11 0
4 2
0 1
0 0
0na
2,847
Source: European Central Bank.
As direct debits are used almost exclusively at the domestic level, flows to the EU only account for a marginal share of direct debits issued by French institutions (EUR 11.3 billion or 1% of direct debits issued in France). On the other hand, it has seen a sharp rise of 31% in 2017. With 25% of flows to the EU in value, or EUR 2.8 billion, Germany has become the country to which creditors of banks established in France send the most direct debit transactions, followed by the Netherlands (22% or EUR 2.5 billion) and Belgium (19% or EUR 2.2 billion).
On the receiving side, direct debit transactions sent by foreign creditors to accounts held by French institutions were more significant, totaling EUR 48.6 billion in 2017; cross-border direct debits from the EU represented 3% of direct debits received in French accounts. Belgium was by far the largest sender of direct debits, with a total of EUR 26.5 billion sent to French accounts in 2017, followed by Germany (EUR 18.2 billion) and the Netherlands (EUR 3 billion).
Breakdown of the use of non-cash payment instruments | 2017 data 9
2018 assessment (2017 data)
Contactless payments
1.2 billion national payments made for a value of EUR 12.9 billion in 2017.
EUR 10.2: average amount of a transaction.
Contactless payments are booming in France. They increased twofold between 2016 and 2017. They now account for more than 13% of the number of face‑to‑face card payments (made on a merchant’s terminal).
Share of contactless payments in face-to-face card payments(%)
Share in volume Share in value
1.0
3.4
7.0
13.1
0.20.9
1.8
3.9
0
2
4
6
8
10
12
14
2014 2015 2016 2017
Source: Banque de France, survey on the use of non-cash payment instruments.