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IBM, Honeywell develop mobile payment system

June 29, 2012

One of the largest technology firms in the world is hoping to take advantage of the growing mobile payment sector by introducing a brand new shopping application for smartphones.

One of the largest technology firms in the world is hoping to take advantage of the growing mobile payment sector by introducing a brand new shopping application for smartphones.

CNet reports that IBM teamed up with Honeywell to develop a system that will allow them to both find out information about products and also pay them to use mobile devices. The self-checkout system runs on both Apple iOS and Google Android and has been called a “digital shopping assistant.”

“Retailers can now deliver a more personalized shopping experience that is less of a chore and more of a convenience for consumers,” IBM Retail Store Solutions vice president John Gaydac said in a statement. “By enabling consumers to scan and check-out a wide variety of products at their own pace, retailers can not only create a more customized shopping environment, but also increase in-store traffic.”

Other major brands have sought to increase profits through mobile credit card processing. PayPal recently introduced its “Here” program, which is available at retailers including JC Penney, Guitar Center and the Home Depot.

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