LG Electronics First To Debut PayPal On Smart TV
Enabling Frictionless Digital Transactions, PayPal Provides Convenient, Secure Payment Option for LG Smart TV Owners
ENGLEWOOD CLIFFS, N.J., April 10, 2013 /PRNewswire/ -- LG Electronics will be the first to offer the incredible convenience of PayPal on its Smart TV platform. Available now on 2013 LG Smart TVs available in the United States, Canada and the United Kingdom, the feature will also be included in LG Smart TVs in France, Germany, Spain, Italy and Australia starting this month with other markets to follow.
This popular digital payment system provides an easy and highly secure way for consumers to purchase products and services directly through their LG Smart TV. The integration of PayPal into the LG Smart TV platform will also open the door to greater opportunities for a number of stakeholders, furthering the growth of a more vibrant Smart TV ecosystem.
"LG and PayPal will create a more user-friendly Smart TV experience, enabling the user to make faster, more secure digital payments," Richard Choi, senior vice president of the Smart Business Center at LG Electronics. "PayPal significantly reduces the number of steps the user has to take in order to complete a transaction; saving them time by eliminating the need to enter credit card and address details for each subsequent purchase. Moving forward, it will also make it possible for LG to better integrate digital commerce with first-class home entertainment."
Fast and Convenient Smart TV Content Purchases
PayPal is the perfect match for the Smart TV platform, allowing consumers to quickly authenticate their identity and make their desired purchase. The user can enter the appropriate digits via a traditional remote or by using LG's Magic Remote to control the digital onscreen keypad. It puts an end to the annoyance of having to enter the same email address, password and credit card number again and again. PayPal also offers a convenient opt-in "remember me" option for even more frictionless purchasing.
"PayPal has been redefining both online and offline commerce, and television represents a dynamic channel for reaching consumers when they're receptive to making a purchase or donating to a cause," said Randall Davies, senior director of global business development at PayPal. "We see Smart TV as a high-potential platform for commerce in the coming years, and we're thrilled to be at the forefront with LG in integrating the ease, security and functionality of PayPal directly into LG Smart TVs."
About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 87,000 people working in over 110 locations around the world. With 2012 global sales of USD 45.22 billion (KRW 50.96 trillion), LG comprises four business units – Home Entertainment, Mobile Communications, Home Appliance, and Air Conditioning & Energy Solution – and is one of the world's leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. LG Electronics is a 2012 and 2013 ENERGY STAR® Partner of the Year. For more news and information on LG Electronics, please visit www.LGnewsroom.com.
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $45 billion global force and technology leader in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a range of stylish and innovative home entertainment products, mobile phones, home appliances, commercial displays, air conditioning systems and solar energy solutions, all under LG's "Life's Good" marketing theme. LG Electronics is a 2013 ENERGY STAR Partner of the Year. For more information, please visit www.lg.com.
PayPal is the faster, safer way to pay and get paid online, via connected devices and in store. The service allows people to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 123 million active accounts in 190 markets and 25 currencies around the world, PayPal enables global commerce. PayPal is an eBay (NASDAQ: EBAY) company. PayPal is headquartered in San Jose, Calif. and its international headquarters is located in Singapore. More information about the company can be found at www.paypal.com.
SOURCE LG Electronics USA, Inc.
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