LG Might Launch 'LG Wallet' in the U.S. in 2018

LG Might Launch 'LG Wallet' in the U.S. in 2018

"With Google Pay, it'll be easier for you to use the payment information saved to your Google Account, so you can speed through checkout with peace of mind", said Pali Bhat, VP of Product Management, Payments at Google. This new service is expected to be available online, in store (NFC payments), and across several Google Products including Tez. However, LG has now confirmed that the LG Pay service will be heading to the U.S.by June this year.

Alphabet has consolidated Android Pay and Google Wallet, rebranding the merged entity into Google Pay. It works like most of the other mobile payment systems. LG is also reportedly considering calling the platform "LG Wallet" when it brings to it to North America. For the unfamiliar, LG Pay service will enable users to make payments with supported LG devices on normal credit card readers, similar to the MST used by Samsung. Not only does it have to compete with Samsung in South Korea, but its market penetration in the United States is meager compared to Samsung and Google. Android Pay and Google Wallet branding will be replaced by Google Pay branding. There is no clarification on whether Tez will be rebranded to Google Pay or not.

Google Pay is a new brand that combines the services Android Pay and Google Wallet. If and when it does, it will be directly competing with Samsung Pay in features. The NFC component is used for more modern payment terminals, while the magnetic part is used for older cash registers, according to Phone Arena.

Tez uses UPI (Unified Payments Interface) and is created to work with all major banks, including Axis, HDFC Bank, ICICI and State Bank of India. LG has already released an app with that very same name on the Google Play Store.

We hope in the future that even more companies jump on the bandwagon and begin supporting the new Google payment option.

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