South Korean tech giant LG Electronics is planning to launch own mobile payment platform LG Pay, which will allow customers to complete purchases using only their smartphones.
LG has entered into agreements with credit card firms Shinhan Card and KB Kookmin Card to launch the new service in South Korea.
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The company is expected to officially launch its mobile payment platform in December 2015.
The mobile payment system has been designed to work on all LG smartphones, unlike Samsung Pay which is available only in the recent Samsung smartphone models.
LG declined to reveal more details such as description of technology and launch dates for its mobile payment service in Korea or other markets.
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By GlobalData
