LG Pay will shut down through 2021

LG has announced that it will shut down the payment service it launched for its handsets as it exits the smartphone sector. On the LG Pay website, the message is now visible.

“Thank you for being a valued customer of LG Pay! We regret to inform you that LG Pay will be phasing out and discontinued over the remainder of 2021. More specific details will follow.”

There is no specific date for LG Pay to be phased down, but LG Pay users can always switch to Google Pay on their LG phones. LG Phones’ magnetic stripe functionality, supported by LG Pay, will no longer be supported by Google Pay.

Samsung used to offer the same function on its flagship smartphones, but it no longer does as of the Galaxy S21 series. NFC terminals are significantly more popular now than they were when Samsung Pay was initially introduced in 2015.

LG first introduced its payment service in 2017 to compete with Google and Samsung’s respective payment apps. In 2018, the service was rolled out to newer mid-range handsets, but it wasn’t until the summer of 2019 that the payment service supporting magnetic stripe terminals was launched in the United States.

Source: LG

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