Wednesday, 18 October, 2017

LG Launches LG Pay in South Korea, Its Samsung Pay Competitor

LG Electronics releases mobile payment tool ‚ÄčLG Pay launches in South Korea
Earnest Maxwell | 03 June, 2017, 01:16

Get ready for LG Pay, at least if you live in South Korea.

With all of this talk about Android Pay now being in Canada (joining Samsung Pay and Apple Pay) it's amusing to hear about yet another company working on its own mobile payment app.

As soon as we get some more information on when LG plans to launch their mobile payment system in the USA and Europe, we will let you guys know.

For us in the USA, we are uncertain when LG Pay will launch.

Users of the G6 smartphone, the latest flagship device of LG Electronics, will be allowed to use the LG Pay via software updates.

Unlike its homegrown counterpart Samsung, the Korean behemoth hasn't based LG Pay on Magnetic Security Transmission (MST) technology.

LG's very own payment service, the LG Pay, has finally arrived. While it is limited to these four as of now, LG has also said that they plan to make it available for most banks in the country by September. Users likely won't notice a significant difference in how these two magnetic communication methods work, as both invite you to tap the back of your phone to the magnetic stripe reader on the terminal to wirelessly transmit credit card data. While it will no doubt expand the availability of the service to other markets eventually, it could begin only by early next year.

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