LG Confirms LG Pay Mobile Payments Service Being Developed
The move will see LG join fellow tech companies Apple, Samsung and Google in the mobile payments field, with LG announcing the move via Facebook.
“It’s official! We have partnered with Shinhan Card and KB Kookmin Card to prepare for the launch of LG Pay,” LG stated via a Facebook update.
LG has yet to release further details of the service, with it yet to be announced what functions it will include and whether it is in line for an international rollout.
The mobile payments market has attracted significant interest from tech companies over the last year, with companies incorporating mobile payments functionality into new-release smartphones, tablets and smartwatches.
Apple launched its Apple Pay mobile payments service in the US last year, with Apple Pay this week becoming available in Australia for American Express card holders.
Both Samsung and Google have this year released mobile payments services, in the form of Samsung Pay and Android Pay, respectively, with tech companies now progressively embarking on international rollouts, staking their claim in the growing market.