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LG to launch new mobile payment service next month

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#LG has officially confirmed while speaking to a South Korean media outlet that it will be launching its very own mobile payments service as soon as next month. This service will be the company’s official answer to #SamsungPay, which is currently leading the pack in terms of mobile payments, thanks to its use of MST or Magnetic Secure Transmission.

LG however has failed to mention as to whether its offering will use MST or stick to just NFC like Apple and Google have opted to do with Apple Pay and Android Pay respectively. It is said that the Korean manufacturer is already in talks with leading credit card providers in South Korea to bring this service to fruition.

At this point, there’s still no word on whether LG will bring this wireless payment service to other parts of the world. But given how popular Samsung Pay has turned out to be, we won’t be surprised if the company has global ambitions as well. More details are awaited on this regard, so let’s not get our hopes up just yet.

What do you make of a new mobile payments service from LG? Sound off below.

Source: Korea Times

Via: GSM Arena

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