LG readying its own G Pay payments platform, claims report
Apple Pay, Android Pay, Samsung Pay... LG G Pay? Surprise, surprise
Last year’s launch of Apple Pay (which finally hit the UK this summer) really kickstarted the mobile payments movement, and Android Pay and Samsung Pay have been rolling out of late. Next up? LG, it appears.
According to Android Authority, LG is on the verge of launching its own mobile payments platform for its smartphones and perhaps smartwatches, as well, with G Pay likely to be the brand name. Given its competitors’ straightforward names, that certainly makes sense.
LG has applied for trademarks for the G Pay name in the United States and South Korea, and sources claim that Kim Jong Hoon, director of LG Electronics, confirmed mobile payment plans at a reporters’ conference at the LG V10 reveal back on 1 October. Another source says that LG has been working with South Korean credit card companies on the rollout.
Another payment system? No big deal, right? Maybe and maybe not. Android Authority cites a source saying, "LG is working hard to secure versatility that surpasses current mobile payment methods." Unfortunately, there’s no supporting detail on just how G Pay will be more versatile than something like Samsung Pay (shown), which works with NFC readers as well as magnetic strip ones.
No word yet on when LG is planning to unveil the payments platform, but considering how quickly Apple Pay is catching on and how eager Android users may be to try out Android Pay and Samsung Pay, taking its time probably won’t do LG any favors here. That is, unless the company really does have a more flexible (and therefore more appealing) system in the pipeline.
[Source: Android Authority]
Andrew Hayward
Freelance Writer 
