PayboxPaybox, a mass-market payment method for mobile phones, has been launched in the UK. Paybox is accepted by over 30 websites across the country and is the only mobile payment method that allows people to send and receive money in the UK or across borders and shop online, 24 hours a day.
One year after its German launch, there are over 660,000 registered paybox users and 6,000 retailers in Germany. The company has expanded into Sweden, Austria and Spain, and the UK market presents a huge opportunity for Paybox. Over 40 million people in Great Britain have access to a mobile phone and, according to a recent study by Taylor Nelson Sofres, British Internet users now lead the world in the adoption of e-commerce. Research house Forrester expects the UK mobile payment market to be worth UK[pound]40 million this year, growing to UK[pound]3.8 billion by 2006.