Hot on the heels of Apple’s announcement of a new iMessage based payment processing framework to help Apple’s customers move money from person-to-person, a new bank-backed solution called Zelle was announced by Early Warning Services. The new Zelle system will be available to approximately 86-million mobile banking customers through their bank specific apps. Zelle promises […]
Come comment on this article: New Zelle P2P payment system to provide new safe, fast platform to move money
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LG has just confirmed that it’s currently working on a mobile payment system, which it hopes will challenge both Android and Samsung Pay. Unfortunately, no details were given with regards to when the service will launch, but recent speculation suggests that there will be an opt-in public beta test in South Korea next month.
Judging from the details provided by LG in its official statement, it looks like its payment platform is set to support MST (Magnetic Secure Transmission) and NFC (Near Field Communication), which will deliver an identical tap-to-pay experience to Samsung Pay. However, LG claims its service will excel in terms of software.
Not only is it boasting that the service will be more convenient than its competitors, but the South Korean company also claims that it will be more versatile and functional due to the application’s extremely intuitive, easy-to-use interface.
LG owners: Are you excited to hear that the company is working on its own payment platform? Are you planning on using it? Be sure to let us know your thoughts in the comments section below.
Source: LG (Korea)
Come comment on this article: LG confirms that it’s working on a mobile payment system