Google unifies Android Pay and Google Wallet into Google Pay

Pablo Tucker
January 13, 2018

Apple Pay on the other hand is supported in 25 countries and regions.

LG Pay may also be renamed as LG Wallet when it will be launched in the USA, although that isn't a final decision yet.

Citing the company itself, the publication says the company plans to launch the platform in the second half of the 2018.

For the unfamiliar, LG Pay is very much like Samsung Pay. Apart from NFC, the Wireless Magnetic Communication (WMC) technology can be used for making payments at regular credit card readers that do not feature NFC radios.

LG Pay can be used by placing the NFC-enabled smartphone at a payment terminal. It uses NFC technology and a form of magnetic component to communicate with compatible terminals.

LG Pay has been in service in South Korea since June previous year and is moving to catch up with Samsung Electronics Co.'s Samsung Pay, which is now available in 18 countries, including the United States, China, Australia, Britain, Singapore, Spain and Switzerland.

The report may be accurate on the LG Wallet name. Google's Tez is different from Paytm in that you can't store money in the app.

If Yonhap News Agency's coverage is accurate, this confirms some of the same information that we recently found on the (presumably) accidental release of LG Pay on the Play Store, in the description of which the LG G7 was referenced.

We've reached out to LG to ask about today's report.

Samsung Pay, Android Pay (soon to be Google Pay), and Apple Pay have been around for some time now in the USA and various regions, but another mobile payment system will soon be joining it. LG Pay will be launched in the U.S. soon after enjoying moderate success in its native South Korea. Not only does it have to compete with Samsung in South Korea, but its market penetration in the United States is meager compared to Samsung and Google.

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