After months of rumours and delays, LG has officially launched its mobile payment service in South Korea after showing it off at World IT Show 2017 exhibition in COEX last month. The payment service is initially limited to the G6 and through four credit card brands Shinhan, KB, BC and Lotte, but the company already promised to expand to more banks by September.
LG Pay uses Wireless Magnetic Communication (WMC) technology, a magnetic technology that uses magnetic signals to enable a mobile device to communicate with a regular credit card terminal in order to make the payment. The service also requires fingerprint scan to process every transaction.
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