The mobile payments space is set to gain another major player after LG appeared to confirmed it is set to launch its own service soon.
The company told The Korea Times that it will be launching such a platform in its homeland within the next few months, and is currently in talks with many of the major local credit card companies.
However there was no confirmation of a concrete launch date or expansion overseas as of yet. TechWeekEurope has contacted LG for comment but had not received a response at the time of publication.
If complete, we could well see G Pay appear in future LG smartphones such as the expected LG G5, the successor to the company’s last flagship, which was revealed back in April, or as an addition to its brand new V line, which saw its first launch, the dual-screen V10 device, last month.
LG would hope for a similar level of success as Samsung Pay, which is set to launch in the UK later this year. Following its launch last month, Samsung revealed that the service had been used for $30 million (£20m) worth of transactions – equivalent to nearly $1 million (£660,000) a day – during its first month of operation in South Korea.
After months of speculation, Google also finally launched the first phase of Android Pay last month, revealing that it would now be available to use at around one million stores in the United States.
All clued up on mobile payments? Try our quiz!
After axing 31 percent of its workforce when it failed to be acquired by Amazon,…
Mozilla Foundation axes 30 percent of its staff, and is eliminating its Advocacy Division that…
Improving security. Mandatory multi-factor authentication (MFA) is coming to the Google Cloud by the end…
New AI assurance platform from UK government will help businesses ensure they can safely develop…
Protecting kids? Australian government confirms plan to implement restriction on social media for children under…
Canada ordered China's TikTok business in the country to be dissolved over national security risks,…