LG to shut down LG Pay later this year
A few weeks back, LG announced its exit from the smartphone business. Now the official website of LG pay has confirmed that LG Pay will soon stop working.
“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,” reads the message on the official website.
LG didn’t confirm any date on official website but the media release got a date. LG Pay will be discontinued on Nov. 1, 2021. So, users can switch to other payment services such as Google Pay. LG phones support the magnetic stripe feature on LG Pay, but it won’t be supported on other payment apps.
LG launched its payment service LG Pay back in 2017. It was competing against Google Pay and Samsung Pay. In 2019, LG launched LG pay in the US with support for magnetic stripes. Now when LG phones are going away, it is good to shut down LG Pay as well.
LG has already made an exit from smartphone market but promises OS and software upgrades to selected phones. It will also keep offering after-sales services.