South Korean technology company LG Electronics plans to launch its own mobile payments service , LG Pay , on its upcoming Android flagship smartphones , which will launch this summer into the $ 780bn global mobile payments market . The service will be called LG Pay. Currently Google 's Android Pay is used on LG phones so the new service will give LG more control over mobile pay . Google 's service will allow users to make payments using Wireless Magnetic Communication , a proprietary technology from Dynamics . It is unknown if LG Pay will be compatible with other smartphones .
South Korean technology company LG Electronics plans to launch its own mobile payments service , LG Pay , on its upcoming Android flagship smartphones , which will launch this summer into the $ 780bn global mobile payments market . Currently Google 's Android Pay is used on LG phones so the new service will give LG more control over mobile pay . Google 's service will allow users to make payments using Wireless Magnetic Communication , a proprietary technology from Dynamics . It is unknown if LG Pay will be compatible with other smartphones .