LG Electronics has officially launched out its mobile payment services in South Korea.
LG Pay service would be very much similar to the Samsung Pay, the digital payment services of Samsung Electronics. It is based on the wireless magnetic communication technology, which would enable the users to purchase by touching their smartphones to traditional credit card payment terminals.
As for now, the LG Pay would be available with the four credit card companies viz; Lotte, BC, KB, Shinhan, though this number is expected to grow by the end of September.
While LG Pay comes much later in the market, its competitors like Apple, Samsung with its reach in more than 10 countries. LG Pay as of now would be available for its flagship LG G6 and will later roll out to other smartphones.
What still remains unclear is whether the LG Pay services be launched outside of South Korea which still remains unanswered by LG authorities.