Korean technology giant LG is entering to the mobile payment market.The payment system is called the LG Pay will spice up a little more the competition in the market.
Juno Cho, President and CEO of LG Electronics, CEO of Shinkan Card and CEO of KB Kookmin Card have signed the agreement.LG Pay will be available first in the local market.LG Pay is working with local partners and the global initiative remains unknown for the moment. LG has also rightly wants to get a share of this huge potential and is preparing to participate in the competition with both local and global customers.
As you know, it was shown that Apple and Amex could initiate from person to person money transfer application with opening up to new markets, although not up to expectations in the first year,
As a note, Android Pay entered the market in September and Google Wallet iOS app was updated to make money transfer.The Samsung Pay had recorded $ 30 million in the first month of operation.
