South Korean technology company LG Electronics plans to offer its own mobile payments service, LG Pay, on its LG G6 flagship smartphones, which will launch this summer into the $780bn global mobile pay market. The service is expected to be available in more than 100 countries by early next year, and it could also work with other smartphone makers such as Samsung Electronics, HTC Corporation or LG's service will allow users to make payments using Wireless Magnetic Communication, a proprietary technology from Dynamics. And while Google's Android Pay is already available on LG phones, the move to use its own payment system would allow LG to control its own cashless destiny and potentially tap into the booming market. It is unknown if LG Pay will be compatible with other smartphones.
South Korean technology company LG Electronics plans to offer its own mobile payments service, LG Pay, on its LG G6 flagship smartphones, which will launch this summer into the $780bn global mobile pay market. The service is expected to be available in more than 100 countries by early next year, and it could also work with other smartphone makers such as Samsung Electronics, HTC Corporation or LG'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.