The company will build the functionality into smartphones intended for the European market in 2012. It will allow users to make payments using their smartphones at a check-out.
"The point-of-sale technology, which will be targeted at small and medium-sized businesses and will involve NFC or near field communications and cloud computing, is currently in beta testing," Jin-Yong Kim, vice president for business solutions at LG's Home Entertainment division, said.
Frost & Sullivan has predicted that there will be 860 million NFC-enabled mobile phones in use by 2015, and that NFC will be the technology embraced to drive mobile payment systems.
Written by: James Delahunty @ 3 Feb 2011 0:31
