Depends on network situations. Here in Perth I'll get a beep immediately on Paywave, but still have to wait a few seconds for Payment Approved to appear on the screen. Some stores seem to have really terrible mobile reception for their mobile payment terminals.

Still faster than Bitcoin confirmations though.

You haven't used a myki machine, clearly!

(myki is the horrible Melbourne version of the Oyster card. a bungled project from start to finish)