Maybe I am just plainly wrong or encountered some specific stations, but this does not feel true from my experience.
During my last visit to London (in 2025), it felt noticeably slower than even NYC subway tap-to-pay.
Suica is a whole other beast that isn't even in the same category of speed. It genuinely feels sub-200ms instantaneous.
Correct, Suica is faster than Oyster (card), which is faster than paying with bank cards or phones in London.
(I haven't used the NYC system.)