NFC TIMES Exclusive Insight – While large UK processor Worldpay is exalting the growth of NFC mobile payments in the UK during the first six months of 2017, it’s important to note that NFC phone transactions still make up a small percentage of total in-store card transactions.
Worldpay, which owns nearly 40% of the UK in-store processing market, said its own transaction value figures show that total in-store NFC mobile transactions hit £370 million (US$473 million) for the first six months of this year, an increase of 336% compared with the same period in 2016.
Worldpay attributed the increase in part to the wider adoption of Apple Pay over the past 12 months and said the increase was also “fueled” by launches of Android Pay and Samsung Pay during the past year. The technology has “begun to gain widespread acceptance beyond ‘early adopters,” said Worldpay.