We're hearing a lot about NFC payment systems of late, but that primarily based around the handsets coming out that use it. But where do you use it? Right now, there are limited outlets in the UK, but probably not enough to tempt you into paying a premium for a mobile phone featuring NFT technology. Which is where LG comes in.According to Reuters and Engadget, LG is working on a European mobile swipe payment system, which should be full operational in 2012. Then, if you've got a compatible phone, you just swipe your handset to pay for goods and services at a variety of stores. That's the theory anyway - and not just in large department stores and chains.'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,' claims Jin-Yong Kim, vice president for business solutions at LG's Home Entertainment division. 'The plan is to launch it in Europe in 2012.'Analysts Frost & Sullivan have said they expect that by 2015 there will be more than 860 million NFC-enabled mobile phones in use and that the NFC technology will be the most-used solution for mobile payment. So LG could be onto a good thing. Presumably, the phones able to use the infrastructure would be from any brand, not just LG. But as yet, that's not been made clear, although it's likely that LG will open up their network and get a slice of the profits it generates.So when you upgrade your handset later this year, you might want to check if it's NFC-compatible. If you go for one that is, you could reap the rewards for your forward-thinking, especially if you love a bit of retail therapy or just fancy flashing your new phone when you want a morning paper.
Or if you want to dip your two into the water, check out Orange and T-Mobile later this year, The two networks will be launching their own system with Barclaycard for selected handsets.