LG to Use NFC to Enhance Its Smartphone Strategy

Company Insight

A senior LG executive in its Home Entertainment division has confirmed that the company plans to launch a mobile payment system in Europe next year. According to a report from Reuters, Jin-Yong Kim, VP for Business Solutions, confirmed that this solution is in beta testing and is intended to allow small- and medium-sized retailers to accept payments at point-of-sale (POS) from near field communication (NFC)-enabled smartphones. Further details are not available, but it was apparent that other LG product groups will also feature NFC technology.

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