Visa’s Tap to Phone, an app which turns mobile phones into payment terminals, has seen an increase in usage of around 200 per cent over the past year.

Visa said in that in the UK, US and Brazil, the countries with the highest adoption rates, growth has surged 234 per cent.

Around 30 per cent of users are small business, with Visa saying the app is helping to democratise access to commerce tools by allowing micro sellers to accept contactless payments through their NFC smartphones.

The company added that small business owners using the technology say it makes their business grow.

A UK-based cafe owner and events manager told Visa that his company expects growth of around 20 per cent this year and that the app will play a huge role in this growth. He added that the technology has transformed the customer experience by cutting queue times and simplifying payments.

“Tap to Phone is a tech equaliser for businesses. Walk into some of the world’s largest retailers or go to your local farmer’s market and they’re using this same technology to accept payments right on their phone,” said Mark Nelsen, global head of consumer products, Visa. “People love to tap, so we’re continuing to expand our tap capabilities to create the best payments experiences for people and businesses.”

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