17 December 2017
visit www.ebaday.com

LG makes NFC play

01 February 2011  |  8091 views  |  0 Globe

South Korean electronics giant LG is preparing to launch contactless mobile payments technology in Europe by 2012, according to Reuters.

In an interview, the firm's Jin-Yong Kim revealed LG is already beta testing point-of-sale technology featuring NFC and cloud computing that will be targeted at small and medium sized businesses.

The technology will let users pay for low value purchases at the check-out directly from their bank account by swiping a hand-held device over the reader.

With Barclaycard and network operator Everything Everywhere launching the UK's first commercial contactless mobile phone payments system this summer and Apple and Google both prepping NFC handsets, the technology appears set to take off.

New research from Frost & Sullivan suggests that the NFC market has moved from an 'innovator' to an 'early adopter' phase and from trial development to the first commercial roll out.

The company predicts that there will be 863 million NFC-enabled mobiles worldwide buy 2015 with EUR111.19 billion in payments made using them that year.

LG plans European mobile swipe payment system in 2012 - Reuters

KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Contactless iPhone: Hype or harbinger of things to come?

Contactless iPhone: Hype or harbinger of things to come?

28 January 2011  |  13564 views  |  1 comments
Barclaycard and Everything Everywhere to launch contactless m-payments

Barclaycard and Everything Everywhere to launch contactless m-payments

27 January 2011  |  15428 views  |  7 comments
Orange plans large-scale NFC roll-out

Orange plans large-scale NFC roll-out

20 December 2010  |  13404 views  |  0 comments
London buses to go contactless

London buses to go contactless

07 December 2010  |  10268 views  |  2 comments
Google Android gets NFC

Google Android gets NFC

16 November 2010  |  15461 views  |  0 comments
Barclaycard explores contactless future

Barclaycard explores contactless future

30 September 2010  |  14299 views  |  0 comments
BofA and Visa plan contactless m-payments trial - Reuters

BofA and Visa plan contactless m-payments trial - Reuters

20 August 2010  |  11695 views  |  0 comments
Apple hires NFC veteran Vigier

Apple hires NFC veteran Vigier

16 August 2010  |  12474 views  |  0 comments
US telcos team on contactless m-payments venture - Bloomberg

US telcos team on contactless m-payments venture - Bloomberg

02 August 2010  |  11764 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.thomsonreuters.infovisit www.niceactimize.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10643 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
10278 views comments | 18 tweets | 36 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
7646 views comments | 10 tweets | 10 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7340 views comments | 19 tweets | 22 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6760 views 0 | 4 tweets | 2 linkedin

Featured job

Find your next job