LG said to postpone the launch of its mobile payment system to 2017
Korean media NewsOne claims that LG has postponed the launch of its mobile payment system to 2017. Hit the link to find out why!
Image source: LG USA
Originally planned for launch later this month, LG is said to have postponed the rollout of its mobile payment service to 2017.
Korean media site NewsOne claims that LG ran into problems during the testing of its mobile payment technology. Moreover, a key component of its mobile payment system has not been commercialized or filled for regulatory approval in the country.
The mobile payment system, known as LG Pay, reportedly makes use of an universal physical card to store credit and debit card information. It can connect to smartphones via NFC and supports IC and magnetic stripe payments.
LG is lagging behind its rivals in the mobile payment space with Apple, Google and Samsung rolling out their services to many countries over the past few months. It is not known at the moment what new features LG Pay will bring to the market when it launches next year.
Source: NewsOne via PhoneArena
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