NEW DELHI: In April this year, LG announced its exit from the smartphone business. Now the company has announced that it is also shutting down its payment service LG Pay.
The company launched the payment service for its own smartphones. The company has also posted a message on the LG Pay website confirming the shutdown of the service.
LG wrote, “Thank you for being a valued customer of LG Pay! We regret to inform you that LG Pay will be phasing out and discontinued over the remainder of 2021. More specific details will follow.”
The South Korean tech giant has not yet revealed any official date for the complete shutdown.
LG Pay users can switch to Google Pay on their LG smartphones. Also, the magnetic feature which is supported on LG smartphones will no longer work with Google Pay.
LG introduced its own payment service in 2017 in competition with Google and Samsung‘s payment apps. In 2018, the company introduced the service to mid-range smartphones and in 2019 LG launched the payment service in the US with support for magnetic stripes.
To recall, LG announced it’s quit the mobile phone business, but its smartphones that are in stock with the vendors can still be purchased. The company has promised that it will provide these phones with “OS and software upgrades in accordance with relevant regulations” and the after-sales service too.
LG TONE Free and wireless Bluetooth speakers will continue to be developed and sold while existing phones and tablet PCs will be available only till stocks last.
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