Still untapped potential in France
The three options above are all very easy to get started with. Regardless of the option you choose, you’re looking at a business investment of less than €100 (or even nothing at all, in the case of iZettle) to ready your company for taking mobile payments.
The big banks responded surprisingly quickly to the potential threats from the market disruptors iZettle, SumUp and Payleven, and to date most of the big banks have launched their own competing products: Monetico Mobile from Crédit Mutuel, Encaissement Mobile from Société Générale, Mobo Mobile from BNP Paribas and Monem Mobile from LCL.
The problem with the solutions from the banks is that they still represent far more hassle for the customer in signing up and managing the service. They require an account in their respective banks. The fees are also usually less transparent. It remains to be seen whether they will be an attractive alternative to the more agile tech start-ups.
Last year, Visa Europe carried out a study that revealed that 730,000 SMEs in France were equipped with smartphones but not taking card payments. All of these companies deprive themselves of potential revenue from customers who wish to pay with plastic. With easy mPOS solutions available, there’s no reason for any business in France to get left behind.