LG launching it own mobile payments service ‘LG Pay’ in South Korea in June

LG is pulling out all stops to compete with the global leaders in the mobile phone industry. The company is now planning to launch their own mobile payment service, LG Pay akin to Apple Pay and Samsung Pay.

For this purpose the company has formed a partnership with a US-based firm Dynamics Inc.  LG will be making use of the wireless technology provided by Dynamics which would allows users to turn their smartphones into their mobile wallets and make transactions through it.

Initially the service will be available through LG G6 which is the flagship smartphone that LG recently announced in South Korea in June. In South Korea, Samsung is LG’s arch rival, so they will be focusing on stabilizing the platform and will the move on to other countries. LG right now has not announced when it will be expanding to other countries and what are the features that their service would entail and is it something that could add to the sales of future LG devices.

LG Watch Style and LG Watch Sport which run Android 2.0 currently support Android Pay, will LG be switching to LG Pay for their wearable too?