In order to combat the increasing demand of mobile payment within the customers of Tech Giants like Samsung and Apple, these are advertising and spreading their area of services to new regions. Watching this trend, LG has also jumped into the opportunity of launching it mobile payment dubbed “LG Pay”.

Yonhap News, largest South Korean news agency, reportedly say that the East Asian Tech Giant is working with US-based Company Dynamics Inc – a firm, which experts in amazing battery-powered payment cards. LG will deploy “Wireless Magnetic Communication” technology helping LG smartphones which are compatible with credit card terminals.

The LG G6 will be enabled to support LG Pay, as its hardware is designed to facilitate LG Pay. The company has announced that it will roll out the services to older smartphones via update in the second half of current year.

However, there is no news on whether any fee will be charged on LG Pay, and the company did not make clear whether it will expand LG Pay’s market to other regions or not.