To say there are a lot of mobile payment systems out there these days is a severe understatement. We have Apple Pay for iOS users. Android Pay and Samsung Pay are both nice options for us on the Android side. In addition, Chase recently announced that they are planning to bring yet another mobile payment system to market soon. It appears LG is ready and willing to join the mobile payments initiative by launching their payment system next month in South Korea, reportedly dubbed G Pay. According to Korean sources, LG will kick off the launch by partnering with two of the biggest card companies in their home country, Shinhan Card and KB Kookmin Card. There is no word on a US launch, but I assume LG would love to branch out if the system is a success in Korea.
I’m not really feeling all these new mobile payment systems. While I’m all about choice, having so many different mobile payment initiatives makes the customer service experience hard to manage for retail stores, and ends up with employees being uneducated about all the possible payment types. I already get shocked looks when I use Samsung Pay at credit card terminals without NFC, which is pretty fun, but also illustrates my point here. Hopefully if LG launches G Pay in the US they at least have the intelligence to bring an interesting feature to the space like Samsung did with Magnetic Secure Transmission technology.
Anyone excited for yet another mobile payment option?
Source: Korea Times
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