(Pocket-lint) - LG Pay is here. The Korean brand's contactless payments system arrives in the USA.
Well, it's here if you own an LG G8 ThinQ flagship, as this is the only handset with support now that the service has launched.
There's good news, however, as the following devices will also be supported in the near future:
The payments system is similar to Samsung Pay, being compatible with NFC and magnetic stripe terminals (WMC), where available. Not all retailers and stores offer such systems, however, so there's not 100 per cent reach for this setup. The majority of Visa and MasterCard locations will be compatible, though.
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You'll also need a banking provider that supports the system. At present that includes the following:
- PNC Bank
- US Bank
- Regions Bank
- State Employees' Credit Union (North Carolina)
- Virginia Credit Union
So why use LG Pay rather than Google Pay or another payments system? The digital wallet system allows for LG Perks, meaning real money can be earned and redeemed anywhere that accepts Visa. However, leave your perks hanging for more than six months and you may be subject to a monthly fee, according to the terms and conditions.