NFC Wallets Make Up Growing Share of Contactless Payments on London Transit

NFC TIMES Exclusive – Use of NFC wallets continues to steadily increase as part of Transport for London’s landmark contactless payments service, with payments from NFC-enabled smartphones and smartwatches now accounting for 20% of all contactless payments, NFC Times has learned. 

While contactless EMV credit and debit cards still make up the bulk of contactless fare payments, the growing share for NFC devices linked to mobile wallets is significant. Transport for London’s open-loop contactless payments service is by far the largest in the world, so trends in usage are watched closely by the industry. 

The transit authority, responding today to a freedom of information request from NFC Times editor Dan Balaban, confirmed that transactions using “mobile and other noncard devices” made up 20% of all contactless payments. 

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