LG is shuttering its contactless mobile payments service in the US after calling curtains on its smartphone business. In a message spotted by Droid Life, the Korean electronics giant alerted customers that it’s phasing out the LG Pay digital wallet „over the remainder of 2021” ahead of a discontinuation date of November 1st.
You can read the company’s full statement regarding the LG Pay closure below:
„LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services,” the company says.
LG will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region. LG will work collaboratively with suppliers and business partners throughout the closure of the mobile phone business.
The wind down of the mobile phone business is expected to be completed by July 31.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
