LG Bringing ‘G Pay’ Mobile Payment Service to United States and South Korea

According to documents filed with the U.S. Patent and Trademark Office, the company is seeking to patent a product called GPay.

At this time, all we know is that G Pay will likely use NFC technology, just as we see from Apple and Google, but it is unclear if LG intends to work in additional technology such as Magnetic Secure Transmission (MST), like we have from Samsung.

Last year’s launch of Apple Pay really kickstarted the mobile payments movement, and Android Pay and Samsung Pay have been rolling out of late.

Well, it was only a trademark filing. This clearly indicates that the fingerprint sensor in the LG V10 will be used for authentication purposes when LG Pay is finally rolled out in the market.

While we didn’t project that there was much standing in the way, there are new reports that suggest that’s exactly what’s happening, at least for LG.

However, based on the apparent name of the mystery service, it seems probable that LG is working on its own mobile payments service. That says a lot because it could mean LG has plans to join the mobile payment industry.

Android Authority reported that, although a little late to the party, the LG GPay will offer versatility that its competitors could not bring. “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”, ETNews said. This is in contrast to Samsung’s belief that NFC still has limited reach so it makes more sense if you take advantage of the same technology most credit card readers now used in most stores.