LG rumored to be working on a versatile ‘G Pay’ service

by: Robert TriggsOctober 13, 2015

lg logo mwc 2015 c 2

Mobile payment ecosystems have hit the mainstream this year, with the launch of Apple Pay and Samsung Pay bringing the feature to new markets and customers. According to insiders and a couple of trademark applications, electronics manufacturer LG may be preparing to launch its own mobile payment system under the title ‘LG G Pay’.

LG has applied for G Pay trademarks in both South Korea and the US, suggesting that a global launch may be on the cards. Given the naming strategy used by current mobile payment technologies in the market, it’s a pretty safe bet that this is the name that LG is planning to use for its own rumored payment service. Sources also state that LG Electronics Director Kim Jong Hoon confirmed that the company plans to enter the payment business, back at a reporters conference for the V10 smartphone on October 1st.

“Applying for trademark in foreign country indicates that it will start its business in detail. It shared and gathered information about South Korean mobile payment technologies with couple card companies.” – anonymous source in financial industry

Samsung Pay is seen as the leading mobile payment platform in terms of technology, due to its support for commonly used magnetic strip readers as well as NFC payment methods. According to industry insiders, LG’s technology will be more versatile than any other technology on the market right now, although exact details about which technologies LG’s system will support have not been disclosed.

“LG is working hard to secure versatility that surpasses current mobile payment methods.” – source familiar with LG Electronics

Not only would a move into mobile payments help keep LG competitive with some of its biggest rivals in the smartphone market, but it would also allow the company to capitalize on the lucrative, growing mobile payment market. It is not clear exactly when LG will make an official detailed announcement about its plans, but here’s hoping that it will come before the end of 2015.

  • retrospooty

    Can there be anything that the mainstream does that Samsung, then LG doesn’t have a “me too” product? Come on, Google’s Pay service will be widley used. Samsung and LG? Just not good a t software, leave it alone.

    • it’s me tim-cock.

      Samsung pay is universally accepted. Android pay? Not so much. Dude Samsung pay is way ahead of apple pay and android pay.

      • imnoBOSH

        While Samsung pay is widely accepted (in terms of methods for use)… It’s essentially useless when you look at the lack of bank and credit card companies accepted… Until they get their partners onboard I see the service no better then android and apple pay who while don’t have the mag swipe technology have far better relationships with the financial institutes and therefore makes it more appealing to use one of their pay services. The small shops yes, Samsung pay will have the advantage, but with more stores jumping on board(pretty much any place I shop) NFC terminals are becoming commonplace. I would love to use my note5 for Samsung pay, but as I’ve said it’s essentially useless for me until the majority of banks and credit card companies come on board to allow their cards to be used with Samsung pay

    • Wjdzm

      lol this guy doesn’t know the difference btw google pay and samsung pay. what a joke.

      • retrospooty

        ??? Google pay is what has been around for a long time as Google wallet and now it is adapting and going a more modern route. Samsung is … Samsung. TBH, when it comes to Samsung, I delete and and all software from them immediately. They suck at it. Their software and service is all crap. Not gonna use it, not ever. My comment was just the always “me too” attitude. Google did it, Apple made it more mainstream, then as usual comes Samsung “me too” and LG “also ran”. Meh.

        • Wjdzm

          Out of context.
          generalizing “what I said before was”

          • retrospooty

            I said what I meant the first time, you just didn’t seem to get it based on your response, then you went straight to insult mode… Whatever, one thing is for sure, make a comment on an article and someone’s internet douchebaggery will bubble to the surface… And there you are – “What a joke”

  • charlie Jason

    Yeah nobody cares about what shitty paying software LG is gonna build. Update your current phones first.

    • King_Android

      Actually many care. Including this guy. LG phones have been overall the best phone manufacturer giving its customers exactly what they want without using the over zealous security feature Knox. And its not just software its actually revolutionary hardware tech they could be announcing. Dont like LG software, install a custom rom. There are some great ones out for all models.

      • charlie Jason

        Just get a Nexus 6P, problem solved.
        No matter how hard other manufacturers try, their versions of Android are just subpar compared to Stock android. Not everyone willing to flash a custom rom.

        • King_Android

          Well true that’s what I will be getting. Lol

  • yankeesusa

    Unless it can be used almost anywhere like Samsung pay, it will fail. If it uses nfc then it fails also because Android pay is already out.

    • King_Android

      I think thats what they are saying. Even Samsung pay has tech limits where it cant read internal card readers. Only the ones that allow you to slide the card. Maybe they have found a way to include all card readers and with Knox not being installed and LG typically being Developer friendly this should kill any competitive advantage Samsung Pay has. Since once Knox is tripped only once, you cant ever used Samsung Pay. Even if you go back to completely stock it still will not work. And Samsung doesnt care about working around that to please its customers/developers who may have accidentally tripped Knox not knowing the full implications behind doing so. This is the first Samsung phone since the Galaxy Nexus I have purchased and will be the last (Knox). So while this S6 Edge is an amazing phone, the use of Knox in conjunction with Samsung Pay will make me never go back to Samsung again as long as they practice this type of “security”.

      • yankeesusa

        What do you mean by internal card readers? At over 95% of registers it’s either credit card swipe or tap and pay and samsung has both. Don’t know what you mean by internal.

        • King_Android

          Like at certain gas stations they have card readers where you slide the card inside the reader and pull it out. ATMs have these as well. Im talking about those types. Along with more banks/cards involved.

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    • King_Android

      Stop with the spam. Thats a knockoff S6 Edge with a mediatek chip. Smh

  • JohnD

    Android OEMs need to stop with these “monkey see, monkey do” tactics. Just because you can make a payment system doesn’t mean you should. Between Apple Pay, Samsung Pay, and Android Pay.. Do you really think consumers will “try” another payment system. Focus on getting phones in the hands of as many people as Samsung/Apple before you think about extra expenses like a payment system.

    • Toukale

      Well they can’t make money being only a hardware vendor, specially selling commodity hardware, using a commodity software (android). If you do not own the platform you are screwed as a hardware vendor. Too bad they are just realizing it now. Samsung have been trying and failing at doing so. Those companies only seems to care about about the spec checklist, not developing a relationship with their users long term. It only makes sense if all you care about is selling hardware and nothing else. No hardware android vendors makes any money off their users once they sell you their hardware. That relationship begins and end with the selling of the hardware.

  • yankeesusa

    Iv’e only seen those at atm or gas pumps. Never in the checkout register. Most of those are going to be updated to accept chip and pin anyway. But if they aren’t currently how do you see phones being able to use that? It’s outdated tech and the closest thing that will work with that is the magnetic strip which samsung already has mst tech for.

  • #Note5 IsBoss

    LG will always be Samsung’s dirty little slut on a Friday night at the bar.

    Samsung Pay is the leader period LG will always be insignificant

    • squiddy20

      “LG will always be Samsung’s dirty little slut on a Friday night at the bar.”
      And so will you.

      “Samsung Pay is the leader period”
      The explain why it hasn’t taken off/gained traction yet.