LG and Paymentwall are teaming up to bring payments to television.
On Tuesday (Oct. 4), the two companies announced plans to create apps that will enable LG webOS Smart TVs in over 200 countries to support more than 140 different payment methods.
The partnership is aimed at delivering consumers with access to paid apps, movies, games and more via the webOS Smart TV platform.
“By collaborating with Paymentwall, we’re able to evolve the smart TV purchasing experience on the LG webOS platform much faster than if we had worked alone,” Brian Kwon, president and CEO at LG’s Home Entertainment Company, said in a press release. “This partnership is another example of how LG’s collaborative effort has elevated us into one of the leaders in the global smart TV industry.”
The Smart TV payment product from Paymentwall supports checkout that can be accessed using a remote control to enter payment information.
Customers also have the option to use their laptop, tablet or smartphone to execute the payment as well.
“Many Smart TV developers were launching applications on many platforms and were struggling to make money; they had no way to cover the development costs and content licensing fees,” HyoSeok Choe, senior manager of LG Electronics’ content business development team, explained in a statement.
“We are giving developers and content providers a simple and easy way to monetize their content with many payment solutions provided on the Paymentwall Smart TV platform, and with one integration, they can sell easily anywhere in the world and with many ways for people to complete their app and content purchase transactions.”
Daniel Lee, product manager of Smart TV Payments and country manager of Paymentwall in Korea, added:
“For those with LG Smart TV, they can stream movies, videos, access online games and other digital content from the comfort of their couch. Payments via Smart TVs were usually a pain for users, due to having to type everything using the remote control, but with LG TVs adopting Paymentwall’s Smart TV Payments Suite, the users can now pay easily with their remote control, as well as smartphones, laptops or tablets — whichever device they prefer.”