The goal is to make it easier for consumers to use the payment information saved to their Google Account to speed through checkouts.
Google on Monday announced that it is merging Android Pay and Google Wallet into a single payments platform - Google Pay.
LG Pay will not only be for premium smartphones though - LG plans to expand its mobile payment system to its mid-range smartphones in the United States sometime in 2019. When it arrives, however, it may not be LG Pay, but rather LG Wallet, in something of an unusual twist from established norms.
LG Pay may also be renamed as LG Wallet when it will be launched in the USA, although that isn't a final decision yet. More importantly, Google Pay, will (hopefully) make mobile payments less confusing in the days to come. Things started changing when in 2015 Google introduced Android Pay, which eventually took on NFC payments. Much like "Pay With Google", developer information for Google Pay has also been released.
As a recap, LG Pay lets you place your device near a payment terminal, approve of the purchase with your fingerprint, and wait for the transaction to be completed.
Google Pay, according to the Mountain View California-based tech giant is now available on Airbnb, Dice, Fandango, HungryHouse, Instacart, and other apps and websites. Tez is translated to mean "fast" in Hindi, and comes with a digital wallet that will enable users in India to store currency. The third competitor, Android Pay (now Google Pay), is available in 17 countries.
Tez uses UPI (Unified Payments Interface) and is created to work with all major banks, including Axis, HDFC Bank, ICICI and State Bank of India. We'll update this article when and if we hear back from the company.