LG Pay will be supported on the LG G8 ThinQ smartphone at launch and available to download on LG V50 ThinQ 5G, LG V40 ThinQ, LG G7 ThinQ and LG V35 ThinQ in the coming months. LG Pay will be compatible with future LG flagship smartphones.
“LG Pay demonstrates LG’s commient to offering products and services that provide value and convenience to our customers,” said Chris Yie, head of LG Mobile, North America. “LG Pay’s unique features enable flexibility and ease-of-use in the growing mobile payments space.”
Enabling contactless payments via both near-field communications (NFC) readers and wireless magnetic communications (WMC) at magnetic stripe terminals, LG Pay can be accepted virtually anywhere that Mastercard and Visa are accepted, maximizing accessibility and usability. A number of top financial institutions will be supported at launch, including Chase, PNC Bank, Regions Bank, State Employees’ Credit Union (North Carolina), U.S. Bank and Virginia Credit Union, with additional institutions expected later this year.1 LG Pay also includes the option to allow users to store their retailer loyalty cards directly into the LG Pay app.
Additionally, LG has partnered with Swych, a Finablr company, to integrate its award-winning digital gifting service and technology into the LG Pay app, giving users the ability to buy and send gift cards from hundreds of retailers and restaurants. What’s more, digital gifting recipients can seamlessly “swych” gift cards purchased through the LG Pay app to any of the other merchant gift card brands included in its continuously expanding catalog.
“We are delighted to be selected by LG as their launch partner for their exciting foray into the payments space,” said Harpreet Chawla, head of Innovation for Swych. “We are confident that LG consumers will embrace the enhanced convenience and security provided by our digital gifting service and consequently engage with the LG Pay app more often for their day to day transactions.”
LG Pay also features LG PayQuick, enabling the ability to simply swipe up from the bottom of the phone screen for quick and secure payments. And for added convenience, it’s also available via voice commands.
Source: Company Press Release
