LG’s new payment service LG Pay will launch in Korea next month with no confirmed date as of yet for the European and UK launches.
The manufacturer has been rumoured to be working on a payment service for a while now. Last week it was confirmed that it had struck an agreement with Shinhan and KB Kookmin, two of Korea’s largest credit card companies to prepare for the launch of the service.
In a statement LG said: ‘On 18th November this year, two of the largest Korean credit card companies (Shinhan & KB Kookmin) formed a strategic partnership with LG to prepare ‘LG Pay’, a simple and convenient payment service. Launching in Korea in December, there is no confirmed date for when it will roll out across Europe and the UK.’
Apple Pay & Samsung Pay
LG joins its rivals Apple and Samsung in entering the payments market. The Californian manufacturer has received widespread support for its service which launched in the UK in July.
Samsung Pay’s UK roll out has been long anticipated, the service is already available in the South Korea but there is no date been announcement yet regarding the UK time frame.
Other companies have made play’s for the space, Barclaycard for example launched a range of wearable devices that could be used for payments.