LG Electronics launches mobile payments solution LG Pay in U.S.

  • LG also partnered with SWYCH in this project to integrate its digital gifting service in LG Pay.
  • The LG Pay app will use wireless magnetic communication and NFC for contactless payments.
LG Electronics USA, (LG), a billion dollar company in USA with a wide range of products in electronics, has reportedly launched its mobile payment app in the U.S. The app will be available for download across select LG phones. Reports cite, LG also recently signed a partnership agreement with SWYCH, a Finablr company, to incorporate its award-winning mobile gifting technology and service platform into the LG Pay app. According to reports, LG V35 ThinQTM 5G, LG G7 ThinQTM, LG V40 ThinQTM and LG V50 ThinQTM are some upcoming LG smartphones that would support LG Pay app. Moreover, the LG G8 ThinQTM will also support the app at launch. With features such as Wireless Magnetic Communications (WMC) and Near-Field Communications (NFC), LG Pay has enabled contactless payment at magnetic-stripe terminals. Essentially, LG Pay can be accepted wherever Visa and Mastercard can be used. This maximizes the application's usability and accessibility. LG Pay app would also allow users to maintain their respective retailer loyalty card. The Head of LG Mobile, North America, Chris Yie stated that the LG Pay launch demonstrates the company's commitment of providing services and products that would bring convenience and value to their customers. Yie also added that LG Pay boasts of salient features that make it flexible and easy to use in an expanding mobile payment market. The Head of Innovation at Swych, Harpreet Chawla stated that the company is thrilled to be chosen by LG as their LG Pay launch partner. Chawla further added that the company is confident that LG users would embrace their digital gift service and subsequently engage more with LG Pay. Financial institutions such as PNC Bank, Regions Bank, State Employees' Credit Union, Chase, Virginia Credit Union and U.S. Bank would support the service at launch with some more institutions expected to join by the end of this year. Source Credits: https://www.prnewswire.com/news-releases/lg-pay-available-today-in-us-300885765.html