Although it already seems much more widespread in the UK, contactless payments will be available everywhere in the country and the rest of Europe within the next five years.
Mastercard's head of emerging payments products, Mike Cowan, made the claim during the company's "Future of Payments" event held in London.
It was also revealed that the cap on PIN-less payments is rising from £20 to £30 in Britain, although there are still some concerns over theft, in that respect. The more money able to be spent without requiring a PIN number, the more a thief is able purchase in a single transaction.
That's why the UK will still have one of the lowest caps in the European region.
Cowan stated that Mastercard is working towards a completely contactless future by insisting that all payment terminals rolled out to stores from next year on must accept NFC transactions.
Mastercard will also work with Android Pay, Samsung Pay and Apple Pay when those services reach Europe, it was claimed. But we are still waiting on details as to when that might be.
Hopefully, Apple will announce a UK roll out of Apple Pay during its WWDC developers conference in San Francisco to be held next week.