LG Electronics’ mobile payment system will be able to be used in all LG smartphones, unlike Samsung Pay which is available only in the recent Samsung smartphone models, South Korean wire service Yonhap reported on Thursday, without citing a specific source. Furthermore, the South Korean tech giant will partner with the country’s two largest credit card providers, namely Shinhan Card and KB Kookmin, to launch LG’s mobile payment system called “G Pay”. Like rivals Apple Pay and Android Pay, it also supports near field communication (NFC) that requires a separate transaction device.
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Apple iOS device owners are more likely to use m-payment than Android owners, as 45 percent of iOS users will make an m-payment, versus 26 percent of Android users.
As technology moves forward, OEMs like Samsung are getting ready to add further value to their budget lineups.
If LG does launch a mobile payments app before the end of the year, it will still face plenty of competition at home and overseas. Samsung Pay is reportedly a big hit in Korea already, while Apple Pay is quickly gaining traction in America.
This shows that Samsung is feeling the heat from Chinese smartphone makers, who have started including fingerprint scanners in even lower-midrange offerings recently.
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LG first made its plan to launch the payment service official, during the launch event of its first V series flagship smartphone, LG V10 that comes with a bunch of distinctive new features such as a second screen, dual front camera and manual video.
