LG Electronics has joined nearly every smartphone manufacturer under the sun in announcing that it plans to launch LG Pay, a service that will introduce digital wallet technology to its present and future crop of smartphones.
Apple Pay is arguably the most recognisable mobile payment system in use today, followed closely by the likes of Samsung Pay and Google’s Android Pay.
While LG has seen it’s share in the smartphone market fall despite the launch of successful devices such as the flagship LG G4, the Korean company now belives that introducing a mobile payment system to its smartphones will build improved customer loyalty.
So far, LG hasn’t confirmed as to whether LG Pay will enable consumers to physically pay for goods and services through NFC at a cash register (as with Apple, Samsung and Android Pay) or whether the service will simply enable consumers to make online purchases more easily, such as through Google Wallet.
So far, LG have declined to offer any specific details on LG Pay, though we will endeavour to provide updates as the story develops.
What’re your thoughts on LG Pay? Does the market really need another mobile payment system? Let us know your thoughts in the comments below!