do you think such payment flow would work in the US / in the EU as well? I know that for example in Sweden Swish is super popular and you can pay with it in stores by scanning QR code (and then showing your phone to the merchant) - seems like such device could fit there perfectly.
It definitely could, but I really hope it doesn't. Contactless payments are both more convenient and more secure than (even dynamic) QR code payments. (Whether the device manufacturer should have a monopoly on NFC-based payments is a different question, and one under active regulatory scrutiny at that.)