The mobile payments space is set to gain another major player after LG appeared to confirmed it is set to launch its own service soon.
The company told The Korea Times that it will be launching such a platform in its homeland within the next few months, and is currently in talks with many of the major local credit card companies.
However there was no confirmation of a concrete launch date or expansion overseas as of yet. TechWeekEurope has contacted LG for comment but had not received a response at the time of publication.
If complete, we could well see G Pay appear in future LG smartphones such as the expected LG G5, the successor to the company’s last flagship, which was revealed back in April, or as an addition to its brand new V line, which saw its first launch, the dual-screen V10 device, last month.
LG would hope for a similar level of success as Samsung Pay, which is set to launch in the UK later this year. Following its launch last month, Samsung revealed that the service had been used for $30 million (£20m) worth of transactions – equivalent to nearly $1 million (£660,000) a day – during its first month of operation in South Korea.
After months of speculation, Google also finally launched the first phase of Android Pay last month, revealing that it would now be available to use at around one million stores in the United States.
All clued up on mobile payments? Try our quiz!
Tesla lays off software, service, engineering staff after disbanding Supercharger team, as major cull continues
Dominant Bitcoin ETF Grayscale Bitcoin Trust shows first net inflow since January as investors flock…
US campaign funding groups backed by cryptocurrency sector raise more than $102m as firms seek…
Explore the cutting-edge realm of cybersecurity with 'A New Age of Cybersecurity' podcast. Learn how…
Robinhood Markets says it received SEC enforcement notice over cryptocurrency trading platform amidst ongoing crackdown
Chip designer Synopsys to sell software integrity unit to private investors to create new independent…