LG Working On “G Pay” – A Samsung Pay Competitor (Rumor)
We have Samsung Pay on the Android side of things, but LG may be gearing up to throw its hat into the ring with a service dubbed G Pay.
Samsung Pay is now also available in the United States together with Google Pay and Apple Pay.
Mobile payment methods are becoming all the rage these days and according to numerous rumors of a patent filed with the U.S Trademark and Patent office, LG may be trying to break into this new market. Both the “LG G Pay” and “G Pay trademarks have been registered in its domestic South Korean market and in the West, which suggests that LG’s mobile payment service is likely to be rolled out globally”. Despite it being a rumor, it really isn’t that much of a stretch to think that maybe at a few point LG really did consider it.
A report in Android Authority said LG Director Kim Jong Hoon confirmed that LG wants to enter the global mobile payment business. The company apparently gained interest in the space after Samsung launched Samsung Pay, though LG’s service won’t be able to offer the same kind of mobile transactions. That says a lot because it could mean LG has plans to join the mobile payment industry.
Samsung Pay uses “Magnetic Source Transmission” technology aside from NFC. A few people believe that such newer payment solution will have a “wider payment range”. Considering LG has been the most active wearable maker along with Samsung, it was only a matter of time before they started working on mobile payments for their smartwatches and handsets. Given its competitors’ straightforward names, that certainly makes sense.