Aurélien Fleurot, edited by Laura Laplaud 10:03 a.m., February 14, 2022
Paying in instalments is not new, but on the other hand, what is unprecedented is the rapid growth of this so-called split payment market.
This "mini-credit" has already been used by more than a third of French people, whether for a pleasure purchase or to facilitate a difficult end of the month.
Faced with this enthusiasm, many players are embarking on this option.
Paying in three, five, ten installments is a possibility that exists throughout Europe, that of so-called split payment.
A payment method that is becoming a priority criterion for consumers and an interesting sector for market players.
Split payment has become a habit to the point that 60% of Europeans say they are ready to change brands if this option is not available, according to a Kantar study for Floa Bank, the market leader.
A popular service
Since 2017, the sector has been booming and experiencing rapid and constant growth, +20% each year.
For Marc Lanvin, the deputy general manager of Floa Bank, the split payment is generally used for purchases of less than 500 euros, often for high-tech products or household appliances.
“The average basket is €175,” he says.
"People don't want to commit to long periods of time, so one of the successes too is controlling the budget and controlling the time horizon. After three months, they know it's over. “, he explains.
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Split payment is made via your credit card, online or in store.
"It allows you to solve a specific problem, either a pleasure purchase or a forced purchase, the consumer has regained control of his budget and his purchase", certifies Marc Lanvin.
A system soon possible in banks?
A payment system that has become as simple as a classic one-time purchase.
No form to fill out like for a microloan of several thousand euros.
Oney and Alma are the other major players in this booming market, to the point that traditional banks are considering integrating it into their services.