(credit: LG Mobile – Facebook)

The mobile payments arena is currently crowded, but that’s not stopping LG. The consumer electronics giant has announced LG Pay, the company’s personal mobile payment technique that will most likely enable its buyers to full purchases using only their smartphones.

LG has partnered with South Korean credit card issuers Shinhan Card and KB Kookmin Card, which are probably two unfamiliar names if you live outside of that nation. It’s not surprising that LG will roll out the service in its property country initial. There is no word on how extensive the rollout will be, but it really is probably we will have to wait a bit to see LG Pay in the US or Europe. LG did the identical thing with the launch of the Watch Urbane with LTE connectivity. The cellular-powered smartwatch launched in South Korea earlier this year, and now it’s just beginning to come to the US as 2015 comes to a close.

If LG Spend ends up launching in other nations, it would join the likes of Apple Spend, Android Spend, and Samsung Spend in the ever-developing mobile payments world. Even though Apple and Google’s solutions dominate, Samsung’s acquire of LoopPay earlier this year was a sign that it really is serious about staying in the mobile payments space, in spite of steep competitors. Also, these payment systems do not include the number of new apps from banks like Captial 1 that let you tap-and-pay to comprehensive purchases.