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LG to launch mobile payment system in United States by June

13 January 2018

The U.S. will be only the second country with LG Pay. It was not actually so from the beginning-Google Wallet for instance was the app of choice for many users making NFC payments at stores.

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As a recap, LG Pay lets you place your device near a payment terminal, approve of the purchase with your fingerprint, and wait for the transaction to be completed. This means, like Samsung Pay, LG Pay will be compatible with every retailer that can swipe a credit card. It uses the Wireless Magnetic Communication technology, which is slightly different from Samsung Pay's Magnetic Secure Transmission technology.

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The report may be accurate on the LG Wallet name. Magnetic Secure Transmission (MST) has been the key to Samsung Pay's adoption in the United States, considering not every retailer accepts NFC payments, like those from Google Pay (aka Android Pay) and Apple Pay. LG is expected to rebrand the long-standing "G" line, but until we learn what the new naming convention will be, the G7 will remain the title for LG's next flagship. In Korea, the company plans to expand LG Pay to its K10 models as well as other mid-range handsets later this year. The service will be launched in the first half of the year, together with their upcoming premium smartphones, the LG G7 and the LG V40 that will be unveiled next month at the Mobile World Congress.

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The article doesn't mention Canadian availability, so for the time being the most interesting component of the report, from a Canadian perspective, is a sentence that comes towards the end. The availability of the LG Pay in the USA will be timed with the release of its upcoming flagship phone. Not only does it have to compete with Samsung in South Korea, but its market penetration in the USA is meager compared to Samsung and Google.

LG to launch mobile payment system in United States by June