Near Field Communications has a lot of potential to make all sorts of things easier to do when integrated into some of the most common gadgets that people use today. One of the coolest uses for NFC tech for the gadget fan is that over time as more and more NFC payment systems are integrated into stores and vending machines around the country we will be able to pay for all sorts of items using our mobile phones rather than having to dig out a credit card or cash.
In Korea, a grocery store chain called Lotte Mart has announced that it has a new NFC payment system that will also offer discounts to the users that are good for up to 19,000 won in savings over the year. The new NFC system is called Olleh Touch and it will require and app that will only be offered on the Galaxy S II for now. The use of the system will give the user a way to pay with their smartphone and discount coupons at the same time.
The NFC phone payment system is from KT and will also the phone to be tied to the user's credit card details. It's not clear if the app will function with any credit card the user wants to use or if it is only able to be tied to some sort of Lotte Mart store credit card. There is no word on when or if the app will be made available for other smartphones. The NFC system used by KT operates on 13.56MHz frequency and it can shoot data across a gap of about 10cm.
[via Android Community]