Extract . . .
Turning smartphones into payment devices, using Near Field Communication (NFC) chips containing personal data, is being touted as the next big thing by both retailers and phone manufacturers.
The promise to consumers is simple: faster and easier payments using only your phone, without the need to carry credit cards, loyalty cards, paper vouchers or cash.
Read more here:
http://www.bbc.co.uk/news/business-12310810
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