LG Pay Available Today In U.S.

LG's Mobile Payment Platform Supports Contactless Payments via NFC and Wireless Magnetic Communication

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Jul 16, 2019, 11:00 ET

ENGLEWOOD CLIFFS, N.J., July 16, 2019 /PRNewswire/ -- LG Electronics USA announced that LG Pay®, LG's comprehensive mobile payments solution, will be available to download on select LG smartphones via Google Play^TM store beginning today.

LG Pay will be supported on the LG G8 ThinQ^TM smartphone at launch and available to download on LG V50 ThinQ^TM 5G, LG V40 ThinQ^TM, LG G7 ThinQ^TMand LG V35 ThinQ^TM in the coming months. LG Pay will be compatible with future LG flagship smartphones.

"LG Pay demonstrates LG's commitment to offering products and services that provide value and convenience to our customers," said Chris Yie, head of LG Mobile, North America. "LG Pay's unique features enable flexibility and ease-of-use in the growing mobile payments space."

Enabling contactless payments via both near-field communications (NFC) readers and wireless magnetic communications (WMC) at magnetic stripe terminals, LG Pay can be accepted virtually anywhere that Mastercard and Visa are accepted, maximizing accessibility and usability. A number of top financial institutions will be supported at launch, including Chase, PNC Bank, Regions Bank, State Employees' Credit Union (North Carolina), U.S. Bank and Virginia Credit Union, with additional institutions expected later this year.¹ LG Pay also includes the option to allow users to store their retailer loyalty cards directly into the LG Pay app.

Additionally, LG has partnered with Swych, a Finablr company, to integrate its award-winning digital gifting service and technology into the LG Pay app, giving users the ability to buy and send gift cards from hundreds of retailers and restaurants. What's more, digital gifting recipients can seamlessly "swych" gift cards purchased through the LG Pay app to any of the other merchant gift card brands included in its continuously expanding catalog.

"We are delighted to be selected by LG as their launch partner for their exciting foray into the payments space," said Harpreet Chawla, head of Innovation for Swych. "We are confident that LG consumers will embrace the enhanced convenience and security provided by our digital gifting service and consequently engage with the LG Pay app more often for their day to day transactions."

LG Pay also features LG PayQuick^TM, enabling the ability to simply swipe up from the bottom of the phone screen for quick and secure payments. And for added convenience, it's also available via voice commands.

For more information on LG Pay, visit www.lg.com/us/lg-pay.

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $54 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, mobile phones, commercial displays, air conditioning systems, solar energy solutions and vehicle components. The "Life's Good" marketing theme encompasses how LG is dedicated to people's happiness by exceeding expectations today and tomorrow. LG is a 2019 ENERGY STAR® Partner of the Year. www.LG.com.

About Swych
Swych is a mobile gifting platform enabling users to send "swychable" gifts from their mobile device that can be instantly redeemed for electronic gift cards from more than 600+ popular brands. Swych users can instantly buy, send, re-gift, upload, "swych" and redeem gift cards conveniently from their mobile device.

Swych is part of Finablr, a global platform for Payments and Foreign Exchange solutions. With deep regulatory know-how, technology expertise and industry leading partnerships, Finablr companies provide a broad array of tailored and trusted financial solutions for consumers and businesses. With a global reach spanning 170+ countries, Finablr companies processed over 150 million transactions in 2018, managing nearly USD 115 billion for customers.

¹ Users must have qualifying credit or debit cards to pay

SOURCE LG Electronics USA