It looks like South Korea-based electronics manufacturer LG wants to get in on the mPayment game. The company has just submitted an application in the US to trademark the name GPay.
While LG hasn’t made any official statements or announcements about GPay or any potential mPayment service, there are strong indications that this is the ambition in play here. First and most noticeably is the name; given that every other major mPayment service ends in the word “pay”, it would be a strange name for a service that isn’t related to mPayments in some way. And in LG’s application, GPay was listed as being related to data transmission, smartwatches, and mobile devices.
LG’s interest in mPayments could be a sign of the growing potential in the area. While analysts have been divided over the relative success of Apple Pay – the pioneering mPayment system – competitors like Google and Samsung have nevertheless been eager to explore the mPayments market with their own offerings, and Samsung Pay has actually proven very successful in its first month in South Korea. These competitors don’t have any special qualifications to offer mPayment platforms beyond general involvement in the mobile device market, so it only makes sense that LG would consider its own prospects.