According to ETNews, LG recently applied for a G Pay trademark in Japan, Korea and the United States.
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Another piece of info comes from unnamed “industry insiders”, so take from it what you will. As Samsung Pay now has an edge in that its technology supports both NFC and magnetic card strip readers, LG is looking to make its own system even more versatile, surpassing all other mobile payment systems. The name has been trademarked by LG in smartwatches and mobile devices. Last October, Apple rolled out Apple Pay, which allows users to send payment data to properly equipped store registers using near-field communications. Samsung is rolling out the tap-to-pay service to its line of smart televisions for ease of access during movie marathons or sports events viewing parties, while Apple Pay has started setting its sights towards China.
There has been a lot of buzz regarding mobile payments since the Apple Watch landed.
We’re hoping that LG will be ready for an official announcement by the end of 2015. For example we have Apple Pay, we have Android Pay, and we have Samsung Pay, and of course let’s not forget PayPal.
Digital Trends said LG might offer mobile payment solutions in the US and Europe. While I still think competition in most areas of the industry are good, unless LG can bring a few type of innovation to the sector (like Samsung has with MST), it would only be noise and clutter for consumers.
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This move is likely going to benefit LG’s brand value and market position, which hasn’t really been in green, largely due to to falling smartphone sales.
