LG to launch “G Pay” to compete with Samsung Pay & Android Pay

LG is reportedly working really hard to launch its first mobile payment service the ‘G Pay’. The rumor suggests that the service will work with most of company’s Android devices and Android Wear smartwatches.

According to ETNews, the Korean tech giant has already applied for a G Pay trademark in Japan, Korea and the United States. ETNews said LG has been in touch with “South Korean financial businesses” since the beginning of this year and has been piloting mobile payments with a company named Cashbee in South Korea.

“Most people believe that LG Electronics’ mobile payment solution, which focuses more on ‘second-tier strategy’ than early preoccupancy of markets, will have wider payment range and be more versatile than Samsung Pay,”

“Industries are putting more importance on USIM-based payment systems including NFC technologies rather than Samsung Pay’s [magnetic stripe] method.”

ETNews said.

The rumor doesn’t include any details on when or where the service will launch.

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Tags G Pay, LG

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