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LG working on an NFC payment system for Europe, planning launch in 2012

Vlad Savov

All these upcoming NFC-equipped smartphones wouldn't be worth much without places to use them, so it's good to hear LG's announcement this week that it's working on providing the infrastructure for contactless payments. The Korean company has set its sights on Europe, where it's conducting beta testing of point-of-sale technology that will facilitate paying for goods and services by swiping your phone near an NFC sensor. We're not told whether that phone would necessarily have to be built by LG, though we imagine the company would be well served by including as many devices as possible and just taking its slice of the profits. Whatever LG does, it's looking increasingly safe to assume that having NFC on your phone will be a legitimate asset in the coming months (and not just if you live in Japan).

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