Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

LG Electronics launches LG Pay mobile wallet in South Korea

Published 06/02/2017, 09:10 AM
© Reuters.  LG Electronics launches LG Pay mobile wallet in South Korea
AAPL
-
005930
-
  • LG Electronics (OTC:LGEAF) launches its mobile wallet solution LG Pay in South Korea. Users with an LG G6 smartphone can install LG Pay through a smartphone update with other device support to follow.
  • LG Pay currently only works with credit cards from four brands: Lotte, Shinhan, BC, and KB. More cards to come with a goal of including all card companies in Korea by September.
  • Apple Pay (NASDAQ:AAPL) and Samsung (KS:005930) (OTC:SSNNF, OTC:SSNLF) Pay are two of the market leaders in mobile payments. Apple charges fees on payments made through its wallet, Samsung doesn’t, and LG hasn’t said whether it intends to take a Pay cut.
  • Mobile wallet use, in general, has stayed relatively low, according to research firm Pymnts. Samsung’s Pay has the highest rate of 4.5% with Apple falling slightly behind at 4%. LG might decide to limit its Pay markets to avoid competing with the existing, struggling mobile wallet competition.
  • Now read: Apple Investors Should Take Cover


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.