SEOUL, South Korea—LG Electronics, the South Korean technology company, is gearing up to roll out a mobile payment system for U.S. consumers.
The payment system will be launched in the first part of 2018, timed to coincide with the release of a new mobile phone. LG Pay has been available in South Korea since June, in an effort to compete with rival Samsung Electronics’ digital payment system. Samsung Pay is currently active in 18 countries, including the U.S., China, Australia, the U.K., Singapore, Spain and Switzerland, PYMNTS.com reported.
“…LG is currently considering launching its mobile payment service in the U.S. as LG Wallet. In the U.S., the digital payment system will initially work with LG’s G7 and V40 high-end devices before eventually expanding to mid-range mobile phones sometime in 2018,” PYMNTS.com stated.