LG Pay mobile payment service launches in South Korea


LG is finally launching its own mobile payment service, LG Pay in home market of South Korea, that will allow users to pay offline using smartphone.

Unlike Samsung Pay, that uses MST technology, LG Pay uses Wireless Magnetic (WMC) technology, that can be used the same way as an ordinary credit card when making offline payment. WMC generates magnetic signal from mobile devices, and the payment is made to the credit card terminal. It uses fingerprint authentication to complete a transaction, and as an added security generates a new virtual card number everytime you make a payment, to prevent the card number from being leaked.

LG Pay can register up to 10 credit cards and check cards that you use frequently. It will support credit card issued by Shinhan, KB, BC and Lotte brands, and will expand to more by September.

At the moment LG Pay will be compatible only with the LG G6, and the mobile payment solution will be enabled via software upgrade. It will also bring the service to other devices in the near future.

LG also plans to expand LG Pay support for online payment as well as banking services soon.

Kailash Sudhakar
An engineering undergrad student who loves all things tech. He has a soft spot for Android.
LG Pay mobile payment service launches in South Korea LG Pay mobile payment service launches in South Korea Reviewed by Unknown on 6/02/2017 05:40:00 PM
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