LG Electronics’ mobile payments solution LG Pay rolled out in the U.S. July 16, but for now, is only available for the LG G8 ThinQTM smartphone.
In the coming months, LG Pay will be available on V50 5G, V40, G7 and V35 and will work on all future flagship devices, LG said in a press release.
“LG Pay demonstrates LG’s commitment to offering products and services that provide value and convenience to our customers,” said Chris Yie, head of LG Mobile, North America. “LG Pay’s unique features enable flexibility and ease-of-use in the growing mobile payments space.”
Available nearly anywhere Mastercard and Visa are accepted, LG Pay is based on wireless magnetic communication technology, which lets users make purchases by touching their smartphone to traditional credit card payment terminals.
A number of top financial institutions are supported, including Chase, PNC Bank, Regions Bank, State Employees’ Credit Union (North Carolina), U.S. Bank and Virginia Credit Union, with additional institutions expected later this year.
Additionally, LG has partnered with Swych, a Finablr company, to integrate its digital gifting service and technology. Digital gifting recipients can also “swych” gift cards purchased through the LG Pay app to any of the other participating merchant gift card brands.
“We are delighted to be selected by LG as their launch partner for their exciting foray into the payments space,” said Harpreet Chawla, head of innovation for Swych. “We are confident that LG consumers will embrace the enhanced convenience and security provided by our digital gifting service and consequently engage with the LG Pay app more often for their day to day transactions.”
LG Pay also features LG PayQuickTM, enabling the ability to simply swipe up from the bottom of the phone screen for quick and secure payments. It also works with voice commands.
LG Pay initially rolled out in South Korea in 2017 .