LG Electronics is planning a big expansion of its mobile payments platform. LG Pay, which was introduced exclusively in South Korea last month, works in a similar manner to Samsung Pay. It uses Wireless Magnetic Communication Technology to enable LG phones to work with credit card terminals, with payments being made by simply tapping a compatible device against a payment terminal.
Cho Jun-ho, president of LG's mobile communications division, outlined the company's future plans for LG Pay:
Currently, LG Pay is available on the LG G6 and the recently released G6 32GB and G6+ variations. The feature will most likely be present on the upcoming high-end V30, as well as on budget-friendly models starting next year, with the company hoping that its implementation would improve the competitiveness of its smartphones on a global scale.
source: The Investor