LG moves into mobile payments market
Korean mobile handset manufacturer LG is to step into the crowded m-payments market, forming an alliance with Shinhan Card and KB Kookmin Card to launch LG Pay.
The company joins the ranks of Google, Apple and local rival Samsung in rolling out an own-brand mobile payments service.
The company will initially launch the product in Korea, following in the footsteps of Samsung, which reported $30 million in payment volume in the first month after its launch in September.
Source: Finextra – LG moves into mobile payments market