LG Electronics has pushed back plans to release its own mobile payments system to match that from rivals Samsung and Apple.
According to an LG official quoted by the Korea Times, LG has arrived at that decision because it wants all attention and focus on its upcoming G5 smartphone.
LG Pay, as the system has come to be known as of late, was expected to debut next week at the Mobile World Congress in Barcelona, Spain, where LG will be attending and launching several products including a Bluetooth headset, a new range of budget smartphones and its 2016 flagship device, the LG G5.
Previous reports had indicated that LG would go against the grain and offer something different from Samsung Pay and Apple Pay. Instead of users having to rely on their smartphones to make payments at checkout terminals in stores, LG Pay would be implemented using a card. Users can rely on the card to work long after their smartphones have run out of battery. The card can also be used for making transactions at automated teller machines (ATMs).
LG Pay is now tipped to launch in the second quarter of the year.