Both Apple and Samsung are beginning to have their respective mobile wallet payment systems thrive as they expand to further regions. Both Apple Pay and Samsung Pay are already up and running in more than 10 countries each, with Samsung Pay most recently having launched in India today. LG has been rumored to launch its own mobile wallet platform as well, but has since been quiet about it, until now.
According to Reuters, LG has finally broke word, claiming that it will launch its own mobile wallet platform later this year in June. Unsurprisingly, it will be called LG Pay. LG Pay will work like how Samsung Pay does, allowing users to make payments through credit card readers via Magnetic Secure Transmission (MST). LG Pay should be able to work through NFC as well, since Samsung Pay does, but we can’t be certain for now.
LG Pay will begin with the newly launched LG G6 when the platform goes official in June. LG did not specify on whether LG Pay will be available outside its home country South Korea. Chances are that LG will do a test run back home first before it decides whether or not to expand outside its walls.
Source: Reuters