LG Pay is currently in its emerging stages of existence. The mobile payment service has only launched the beginning of June in LG’s home market of South Korea. Other payment services are way ahead of LG, but even so, the South Korean company thinks it can expand the use of the service if it is compatible with more devices, notably, with lower-priced devices.
LG Pay has a similar advantage to Samsung’s MST technology: magnets can simulate the presence of a card swipe, eliminating the requirement of an NFC-based terminal. Cho Jun-ho, president of LG’s mobile communication division,…