LG Electronics USA has gone live with its mobile payments platform called LG Pay in the US.

The solution will support contactless payments through NFC readers and wireless magnetic communications at magnetic stripe terminals.

It will be supported anywhere Mastercard and Visa are accepted.

Users will be able to store their retailer loyalty cards directly into LG Pay.

The solution also includes the LG PayQuick feature. With this feature, users can make rapid payments by swiping up from the bottom of the phone screen.

LG Pay will be initially compatible with the LG G8 ThinQ smartphone.

Eventually, it will be compatible with LG V50 ThinQ 5G, LG V40 ThinQ, LG G7 ThinQ and LG V35 ThinQ.

Future LG flagship smartphones will also support the new platform.

Chase, PNC Bank, Regions Bank, State Employees’ Credit Union (North Carolina), U.S. Bank and Virginia Credit Union are among LG Pay’s initial launch partners.

More institutions are expected to add support for the mobile payment solution later this year.

Moreover, LG Pay is integrated with mobile gifting platform Swych.

LG Mobile head of North America Chris Yie said: “LG Pay demonstrates LG’s commitment to offering products and services that provide value and convenience to our customers.

“LG Pay’s unique features enable flexibility and ease-of-use in the growing mobile payments space.”