After long being discussed through rumors and leaks, LG Pay is finally making its official debut. The firm announced that it was making its mobile payment platform available starting in South Korea.
LG Pay will launch with four major credit card firms on board that includes: Shinhan, KB, BC, and Lotte. The firm stated that it will continue to expand its support and include all available cards by September. Like other mobile payment platforms, users will place their supported device on the credit card payment terminal and use their fingerprint to authorize the transaction. LG Pay utilizes Wireless Magnetic Communication technology.
Although it is only currently available on the G6, the company stated that they would expand the service to its other handsets over time. It will be interesting to see how quickly LG can catch up, if at all, to its competitors like Android Pay and Samsung Pay, which have been available to users for a couple years.