LG Plans European Mobile 'Swipe' Payment System in 2012
LG Electronics plans to launch a "swipe"-payment system for product and service retailers in Europe next year, which would allow consumers to make payments at the check-out using their smartphones. (Reuters)
"The point-of-sale technology, which will be targeted at small and medium-sized businesses and will involve NFC, or Near Field Communication, and cloud computing, is currently in beta testing," Jin-Yong Kim, vice president for business solutions at LG's Home Entertainment division, told Reuters in an interview.
"The plan is to launch it in Europe in 2012," he added.
(Note the article does not mention rumors that LG's mobile phone division is planning to incorporate NFC in one or more models this year).
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