LG has announced that it will launch its own mobile payment service in South Korea in June. Initially, LG Pay will only be available on the recently-released G6, but will likely make its way to the firm's other handsets later by way of a software update.

Like Samsung Pay, LG Pay takes advantage of wireless magnetic technology, meaning you'll be able to use your handset to pay for goods in any brick-and-mortar store that accepts credit cards by tapping it against the side of a payment terminal.

Details are sparse

Unfortunately, that's all the information LG provided — so we don't know whether it'll expand to other markets (we're guessing it will) or if the company will apply a transaction fee like Apple does. Only time will tell.