South Korean multinational electronics company, LG has rolled out the LG mobile payment platform, LG Pay, in the U.S. which will allow users to pay at NFC payment terminals.
LG Pay supports WMC (wireless magnetic communication), commonly known as magstripe terminals, but in this case, the user cannot carry out the transaction by inserting a card inside the magstripe machine and then sliding it out, much like Samsung Pay.
The payment platform is available only on LG G8 ThinQ, initially, soon after which support for other LG smartphones like the G7, V50 5G, V40, and V35 will be made available.
In the LG Pay app, users will be able to store gift cards, loyalty cards and credit cards with ease.
The banks and credit unions supporting LG Pay as of now are Chase Bank, PNC Bank, US Bank, Regions Bank, State Employees’ Credit Union (North Carolina), and Virginia Credit Union.
The LG Pay app can be launched by just swiping upwards from the bottom of the phone, even while using another app or during the sleeping state of the phone.
The platform had launched in South Korea on June 2017 and was rumored to arrive in the U.S. in the first half of 2018; a year later, LG has launched its mobile payment platform in the U.S., after gaining the support of the New-York based Chase Bank, one of the ‘Big Four banks’ of the United States.