LG Pay, LG's mobile payment system, has been a long time coming. When it arrives, however, it may not be LG Pay, but rather LG Wallet, in something of an unusual twist from established norms. The company is said to be planning to launch the service in the US during the first half of 2018 to coincide with the release of its next flagship Android smartphone. It uses NFC technology and a form of magnetic component to communicate with compatible terminals.
Samsung Pay provides the same feature through the Magnetic Secure Transmission technology.
As a recap, LG Pay lets you place your device near a payment terminal, approve of the purchase with your fingerprint, and wait for the transaction to be completed.
It has not been smooth sail for both Android Pay and Google Wallet in recent months-the competition from other digital payment providers has been tough. Google's Tez is different from Paytm in that you can't store money in the app. The app didn't actually even work and was quickly removed by LG.
LG will be bringing its payment system to the G7 and V40 premium phones in the US. LG is reportedly planning to bring its mobile payment system sometime during the first half of this year and may even launch under a new name called LG Wallet. The availability of the LG Pay in the US will be timed with the release of its upcoming flagship phone. According to Yonhap News, LG Pay is finally making its way to the United States.
Samsung Pay has one advantage over its biggest competitors, Apple Pay and Google Pay, formerly Android Pay/Google Wallet.
Samsung Pay, Android Pay (soon to be Google Pay), and Apple Pay have been around for some time now in the USA and various regions, but another mobile payment system will soon be joining it. LG Pay will be launched in the U.S. soon after enjoying moderate success in its native South Korea.
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