In an expected move, LG is shutting down its mobile payment service in the US following news earlier this year that they’ll no longer make smartphones. For those unaware, LG Pay was a feature similar to contactless Apple Pay and Samsung Pay.
While Apple’s payment system is everywhere and Samsung’s had neat features like the ability to pay anywhere a debit card is accepted, even old swipe terminals, LG Pay didn’t have anything special. In fact, many people didn’t even know it existed, so it’s no surprise the company is shutting the doors.
With the upcoming July 5th date, where LG will completely terminate its mobile phone business, ending software services is the logical next step. However, LG Pay works on several phones released in the last several years, so this will affect device owners.
The Korean company alerted customers that it’s phasing out the entire digital wallet system and LG Pay “over the remainder of 2021,” with the main discontinuation date being November 1st, 2021. Basically, users have a few months to figure out 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 components moving forward. For those wondering, LG promised to update high-end devices for the next three years, but don’t expect mobile payments to work at all come 2022.