In an expected move, LG is shutting down its mobile payment service in the US following news earlier this year that they will no longer make smartphones. For those who didn̵
While Apple’s payment system is everywhere and Samsung’s had useful features like the ability to pay anywhere a debit card is accepted, even old swipe terminals, LG Pay had nothing special. In fact, many people didn’t even know it existed, so it’s no surprise that the company is closing its doors.
With the upcoming July 5 date, when LG will completely end its mobile phone business, ending software services is the logical next step. However, LG Pay works on several phones released in recent years, so it affects device owners.
The Korean company warned customers that it is phasing out the entire digital wallet system and LG Pay “over the rest of 2021”, with the main shutdown date being November 1, 2021. Basically, users have a few months to come up with a new payment method.
With the phone and mobile payments side both gone, the company will focus on connected devices, robotics, software and electric vehicle parts in the future. For those wondering, LG promised to update high-end devices over the next three years, but don’t expect mobile payments to be fully operational by 2022.
Source: LG via Droid-Life