Spending via mobile contactless transactions soared by 336% in the first six months of 2017, according to new data from Worldpay.
In the past 12 months, the technology has gained widespread acceptance beyond ‘early adopters’, fuelled by the launch of Android Pay in 2016 and Samsung Pay earlier this year, the payments processing company said.
Supermarkets and grocery stores continue to dominate the mobile tap and pay market, accounting for 55% of total spend so far in 2017.
Year on year payments topped £370m in the first six months of this year, with monthly spending up from £46m in January to £74m in June – a rise of 57%.
Mobile’s overall share of in-store transactions has risen from 1.18% at the end of 2016 to 2.04% in June 2017, Worldpay said.
James Frost, UK CMO, Worldpay, said: “Mobile spending has shaken off the novelty tag, and is breaking its own spending records virtually every month. Granted there’s still some way to go before we start cutting up our cards and chucking away our wallets, but it’s easy to see why everyone from start-ups to tech giants is eager to have a stake in the technology.
“We’re now seeing pockets of incredible growth in mobile adoption right across the country with the South East of England accounting for 15% of total spend and the North West making up 10%.
“Mobile is already emerging as the dominant payment channel for ecommerce. It’s very difficult to argue against it doing the same for in-store payments; and at a far faster rate than many would imagine.”
Spending on all forms of contactless systems now accounts for 38% of all non-cash transactions in the UK, Worldpay said.