LG is about to gear up to launch its LG Pay service at this year’s Mobile World Congress along with its new G5 flagship and mid-range smartphones. For ensuring maximum exposure for the upcoming G5 smartphone, now LG has pushed the launch date back into the second quarter of the year. LG is a company that is partnering up with a number of card companies and also since the late last year it has been preparing to launch its mobile payment service.
“LG Electronics has delayed the official launch of LG Pay to the second quarter of this year to help the new LG flagship smartphone ― G5 ― receive more media attention,” – LG official
In addition, one of LG’s technology affiliates suggests that the company is concerned about flagship smartphone sales, after facing tougher market conditions and a lack of traction with its last generation flagships. The G5 is taken to be a key handset to lift the LG`s mobile system.
LG`s mobile payment is going against the Apple and Samsung Pay platforms which have already staked out strong claims in the market. LG Pay will make a use of a general purpose “White Card” that can be tied to existing bank accounts and cards. In order for allowing the consumers to pick between associated cards the card appears to make use of a small display and navigational button.
Rumors suggest that LG may be behind on signing up card companies in other target markets, such as the US, although LG has already signed up a number of Korean card companies.