LG Electronics is planning a big expansion of its mobile payments platform. LG Pay, which was introduced exclusively in South Korea last month, works in a similar manner to Samsung Pay. It uses Wireless Magnetic Communication Technology to enable LG phones to work with credit card terminals, with payments being made by simply tapping a compatible device against a payment terminal.
Cho Jun-ho, president of LG's mobile communications division, outlined the company's future plans for LG Pay:
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