LG Electronics USA announced that LG Pay®, LG’s comprehensive mobile payments solution, will be available to download on select LG smartphones via Google Play TM store beginning July 16th.
LG Pay will be supported on the LG G8 ThinQTM smartphone at launch and available to download on LG V50 ThinQTM5G, LG V40 ThinQTM, LG G7 ThinQTM and LG V35 ThinQTM in the coming months. LG Pay will be compatible with future LG flagship smartphones.
Enabling contactless payments via both near-field communications (NFC) readers and wireless magnetic communications (WMC) at magnetic stripe terminals, LG Pay can be accepted virtually anywhere that Mastercard and Visa are accepted, maximizing accessibility and usability.
A number of top financial institutions will be supported at launch, including Chase, PNC Bank, Regions Bank, State Employees’ Credit Union (North Carolina), U.S. Bank and Virginia Credit Union, with additional institutions expected later this year.1 LG Pay also includes the option to allow users to store their retailer loyalty cards directly into the LG Pay app.
Additionally, LG has partnered with Swych, a Finablr company, to integrate its award-winning digital gifting service and technology into the LG Pay app, giving users the ability to buy and send gift cards from hundreds of retailers and restaurants.
What’s more, digital gifting recipients can seamlessly „swych” gift cards purchased through the LG Pay app to any of the other merchant gift card brands included in its continuously expanding catalog.
LG Pay also features LG PayQuickTM, enabling the ability to simply swipe up from the bottom of the phone screen for quick and secure payments. And for added convenience, it’s also available via voice commands.
For more information on LG Pay, visit www.lg.com/us/lg-pay.
Swych is a mobile gifting platform enabling users to send „swychable” gifts from their mobile device that can be instantly redeemed for electronic gift cards from more than 600+ popular brands. Swych users can instantly buy, send, re-gift, upload, „swych” and redeem gift cards conveniently from their mobile device.
Swych is part of Finablr, a global platform for Payments and Foreign Exchange solutions. With a global reach spanning 170+ countries, Finablr companies processed over 150 million transactions in 2018, managing nearly USD 115 billion for customers.
1 Users must have qualifying credit or debit cards to pay
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”