“We consider the partnership with LG as proof of the market leadership of our mobile payment solutions competence and look forward to continue developing LG Pay together with LG.”
G+D Mobile Security is providing cloud payment services to help LG bring the LG Pay platform to the United States. The US is the first country to offer support for LG Pay outside of South Korea.
LG Pay is available on LG Electronics smartphones, and allows users to link a Mastercard or Visa credit card to their phone to make payments at contactless retail terminals. The utility is built with G+D Mobile Security’s Convego CloudPay solution, a tokenization service that manages tokens and transmits requests for Mastercard and Visa transactions.
Convego CloudPay is compatible with other payment schemes, which will make it easier for LG to scale the LG Pay platform in the future.
“We consider the partnership with LG as proof of the market leadership of our mobile payment solutions competence and look forward to continue developing LG Pay together with LG,” said G+D Mobile Security CEO Carsten Ahrens.
LG Pay was first launched back in 2017, although the subsequent growth of the platform has subdued somewhat when measured against bigger competitors like Google Pay and Apple Pay. With G+D, LG gains a partner at the forefront of the payments industry. G+D and IDEMIA recently formed a White Label Alliance that will seek to establish global payment standards, and that expertise should be invaluable as LG looks to expand with LG Pay.