Mobile payments are becoming more and more popular with several platforms out and another one on the way.
LG confirmed to The Korea Times that it is planning to launch its own mobile payment platform as soon as next month. LG is making deals with South Korea’s major credit card companies before launching the service. There are no details on the official name nor the date of launch.
It is also unknown whether LG will only use NFC or also MST (Magnetic Secure Transmission like Samsung Pay).
It will be difficult for LG to gain traction with a mobile payment service among giants like Apple, Samsung, and Google, all offering their own payment service, but with the market still in its infancy everything is possible. The company will have to do something different that will encourage people to buy an LG smartphone to use its new mobile payment service.
I really to like this idea of OEM's each introducing their own Payment solutions, That's only going to quickly overcrowd and confuse the issue. Yeah Samsung has the benefit of their Loop pay tech, but I much prefer mobile payments to be done at ...
I can honestly care less who comes out with a mobile payment system, as long as it's secure and it supports Visa cards. I really hate Samsung Pay for only allowing American Express and other brands that hardly anyone has even heard of.
YES! A universal system like debit or credit cards. W don't need another MasterCard vs. Visa bullcrap.