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LG to launch mobile payment system in U.S. by June

2018/01/09 09:35

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SEOUL, Jan. 9 (Yonhap) -- LG Electronics Inc. said Tuesday it will launch its mobile payment system in the United States during the first half of this year in time with the release of its upcoming mobile phone.

LG Pay has been in service in South Korea since June last year and is moving to catch up with Samsung Electronics Co.'s Samsung Pay, which is currently available in 18 countries, including the United States, China, Australia, Britain, Singapore, Spain and Switzerland.

Based on the Wireless Magnetic Communication technology, LG Pay allows users to make payments by touching their smartphones to regular credit card devices.

Samsung Pay provides the same feature through the Magnetic Secure Transmission technology.

LG said it is considering launching its mobile payment system as LG Wallet in the U.S.

The tech giant said it is expanding the mobile payment system function, from premium devices to its K10 smartphone and other mid-range mobile phones this year.

In the U.S., LG said it will launch the mobile payment system with its G7 and V40 premium phones this year before expanding to mid-range phones next year.

G7 phones will be showcased at the Mobile World Congress in Barcelona next month before hitting the shelves in South Korea and the U.S. in March or April.