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March 28, 2013

Mobile Payments in UK set to grow 100% by 2015

PayPal has picked the UK for its first stab at mobile payments in Europe because, with 18 million customers (out of 123 million worldwide), the UK is the company’s second-largest market outside of the U.S. And it also has one of the highest smartphone penetrations in Europe — currently at around 61%, according to Kantar Worldpanel Comtech.

According to emarketer  , NFC payments in the UK will increase more than 100-fold in four years, topping $9.7 billion (£6 billion) by 2016.