Reports are circulating that LG recently filed for a trademark in the US Patent office for a product called GPay. According to Venturebeat, the trademark is related to data transmission under smartwatch and mobile devices. From the name itself, it's fair to make assumptions that it will be a form of digital payment similar to Samsung Pay, Google's Android Pay and Apple Pay.

If LG is to become successful in this endeavor, it needs to setup as quickly as it can before the public use of this form of payment becomes a norm. Apple Pay would certainly dominate its own line of smartphones once the app becomes native accross all of its devices. The Android platform, on the other hand, is still a free market, so to speak. Since the OS is gearing towards removing a lot of its bloatware and its latest version, the Marshmallow, allows you to remove permissions, it's almost effortless to choose a non-native payment app.

Currently, Android Pay already has American Express, Bank of America, Citibank, Discover, Navy Federal, PNC, Regions, USAA, US Bank, Wells Fargo with Capital One joining soon. The device requirements for Android Pay are also pretty low compared to what LG would need to start with. Since it would initially be available to its own smartphones, you will need, at the very least, the new LG V10 with the fingerprint sensor for this app. LG's decision to also include Android Pay in its own line of apps might also be a major factor to consider.

For now, LG is rumored to be conducting tests in South Korea on the Watch Urbane and LG G4 with the help of a local prepaid brand. LG has not issued a comment about these rumors yet but there is a good chance that it would possibly be introduced during the release of its new flagship, typically scheduled during the first half of the year.