LG Pay debuts in South Korea

The last time we heard about LG Pay, it was supposed to arrive this month. Now, we see that LG is on schedule as the company's mobile payment service launches in South Korea as promised. This way, LG becomes the fourth big name in the industry to have such a payment tool up and running, after Apple, Samsung, and Google.

Although LG Pay is similar to its competitors, the technology under the hood is different. While Samsung Pay uses Magnetic Security Transmission, LG Pay takes advantage of the Wireless Magnetic Communication technology. Sadly, both services have a weak point in common - only a select number of devices can be used with them. In LG Pay's case, the first device to support it for now is the LG G6 flagship. Support for the service will come to LG G6 users via a software update.

LG Pay only covers four credit card companies now - KB, BC, Lotte, and Shinhan. If everything goes well, all major brands should be supported by the end of September, reveals LG. Unfortunately, there is no word about additional handsets to receive LG Pay support or new markets that would get the service.