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LG Pay mobile payment system announced

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LG Pay

LG has quietly thrown its hat into the mobile payment ring with the announcement of LG Pay.

With Apple Pay, Android Pay, and Samsung Pay all announced and beginning to make headway (to varying degrees), you might think that there's scant room for another mobile payment pretender.

LG would appear to disagree, as it has just announced its own platform. It's called, rather predictably, LG Pay.

Unlike its aforementioned rivals, there's been no glossy launch event for LG Pay. Rather, LG announced the news via a rather discrete Facebook post.

"It’s official!" reads the post. "We have partnered with Shinhan Card and KB Kookmin Card to prepare for the launch of LG Pay."

And that's about it, besides the above picture of LG CEO Juno Cho standing in the middle of his opposite numbers at Shinan Card and KB Kookmin Card.

As you might have guessed, the partners LG has aligned with for the launch of LG Pay are two South Korean banks. That means that LG Pay, like Samsung Pay before it, will launch in its native market first.

Related: Apple Pay vs Samsung Pay

There's no news on a wider rollout for LG Pay, but an LG spokesperson did tell TechCrunch that the company "will have more details in the coming weeks."

The question is whether a wider rollout of LG Pay makes sense when LG has a relatively small share of the smartphone market outside of its home territory.

Next, see what we thought of the LG G4 in our review video:

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