Here comes LG Pay

Antonio Villas-Boas/Business Insider

South Korean electronics maker LG just announced that it will soon launch its own mobile payment service, called LG Pay.

The company announced the service on Thursday in a Facebook update.

LG is partnering with two prominent Korean banks, Shinhan Card and KB Bookman Card, to launch LG Pay. LG has offered no official details about international rollout, but told TechCrunch it “will have more details in the coming weeks.”

LG Pay has a good shot at becoming popular in its home country, but it’s tough to see it becoming popular here in the US. We already have Apple Pay, Android Pay, and Samsung Pay — and compared to LG, both Apple and Samsung have much bigger footprints in the US in terms of sales.

That said, people who love LG smartphones should be pretty excited about mobile payments. Apple Pay, for instance, is a great reason to own an iPhone, as it’s a quick, safe, and effective form of paying for goods. But even Samsung has had issues trying to make Samsung Pay relevant, even though its solution supports more payment methods than Apple Pay or Android Pay. Hopefully LG has some ideas to market its new payments platform to make it a hit both at home and overseas.