LG might be prepping its own contender to battle Google and Samsung in the mobile payments space.
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LG has just applied for a trademark of “G Pay” in South Korea and will follow this up by applying for a trademark in the US, said ET News. Both the “LG G Pay” and “G Pay trademarks have been registered in its domestic South Korean market and in the West, which suggests that LG’s mobile payment service is likely to be rolled out globally”.
Last year’s launch of Apple Pay really kickstarted the mobile payments movement, and Android Pay and Samsung Pay have been rolling out of late.
LG is reportedly looking to enter the mobile payments market with a service dubbed “G Pay”.
Samsung Pay is now also available in the United States together with Google Pay and Apple Pay. That says a lot because it could mean LG has plans to join the mobile payment industry. The payment application filed by the company are the only tell-tale sign of LG launching a counter to Samsung and Apple’s much popular services. LG is also believed to be in contact with a few businesses related to finance. MST allows select device owners to use mobile payments on older credit card terminals that don’t feature NFC, relying exclusively on magnetic signals replicating that of a card swipe. It was rumoured that LG was working on a mobile payment service, which the company neither denied nor confirmed.
As of now Samsung’s payment serve the Samsung Pay is touted to be the finest due to its technology and NFC mode of payment.
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LG phones may already take advantage of Android Pay but having its own “LG G Pay” is more convenient and probably more secure. Given its competitors’ straightforward names, that certainly makes sense.
