The mobile payments market is about to get more crowded: LG plans on bringing LG Pay, its payments platform, to the US sometime in June, according to Yonhap News. It’ll go head-to-head with solutions from Google, Samsung, and Apple, which have a substantial head start — Apple Pay is already available in 25 countries and regions, and Android Pay works in 17 countries.
LG Pay launched in South Korea in June 2017. It uses LG’s proprietary Magnetic Communication technology, which is similar to Samsung’s Magnetic Secure Transmission Technology and allows phones that support it to transact with card readers that don’t have NFC radios.
LG is reportedly planning to launch its mobile payment service under the name LG Wallet in US instead of LG Pay. The initial rollout will be limited to high-end devices such as the rumored G7, and will eventually trickle down to mid-range devices.
Source: Yonhap News Agency
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