LG Pay will go after Samsung Pay in June, exclusive to Korea and the G6 for starters
Just in case you needed one more reason to get excited about the LG G6, its oft-rumored mobile payment feature, which was merely mentioned in passing when the phone debuted at MWC, is now firmly scheduled for a June commercial rollout.
Similar to Samsung Pay in that it will use so-called “Wireless Magnetic Communication” tech to work with “regular”, i.e. non-NFC-enabled, point of sale terminals, LG Pay is headed to the G6 and, eventually, “other” handsets by way of over-the-air software updates.
Unfortunately, the digital wallet service is reportedly exclusive to Korea, and there’s no word on any sort of international expansion around the corner. Ironically, the chaebol’s MST-equivalent functionality hails from US-based Dynamics Inc., which apparently “holds the most advanced technology in the field of mobile transaction.”
Impressively, LG Pay already has the support of seven local credit card companies (out of eight), with a final unnamed holdout still in negotiation. Domestically, it sounds like the OEM could realistically expect to challenge the status quo in terms of both flagship smartphone sales and adoption of tap and pay solutions. After all, the G6 dashed to 30K orders, and actually topped Korean sales rankings for its first full week in stores.