From CNET: Just when you thought there couldn't be more tech companies tackling the notion of mobile payments, in walks LG.
The South Korean electronics conglomerate said Thursday it plans to launch LG Pay, a service that will presumably turn its smartphones into digital wallets.
LG is the latest company looking at mobile payments as the next big service. While the idea of paying for goods and services with smartphones has been around for years, Apple Pay helped ignite consumer interest in the area late last year, and was followed by Google's Android Pay and the Samsung Pay systems.
Companies are eager to push mobile payments in the belief that the additional service will build consumer loyalty. Apple Pay users, for instance, could potentially be more likely to keep their iPhones if they can store their payment data and use the device to buy shampoo, beer and gum.
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