It’s an interesting combination; a payment solution within your smart TV. Yet, for South Korean manufacturer LG and payments facilitator PayPal, it has only come to fruition this week. So is this a match made in heaven?
The latest feature is available on 2013 LG Smart TVs in Canada, the United Kingdom and United States, with Australia, France, Germany, Spain and Italy anticipating a rollout starting this month.
With the two companies in conjunction, paying for premium TV content will in theory become a quicker, less painful process. PayPal will also feature an ‘opt-in’ option with the Smart TV remembering users’ account details.
“Moving forward, it will also make it possible for LG to better integrate digital commerce with first-class home entertainment,” said Richard Choi, senior vice president of the Smart Business Center at LG.
Randall Davies, PayPal senior director of global business development, noted in a statement: “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.”
The possibilities for this solution could be intriguing, and shows the possibilities of combining relatively long-standing technology in PayPal with the connected TV
Presumably both companies, given the partnership and investment, will be anticipating more sophisticated TV advertising than just paying for the occasional piece of premium content. As the PayPal blog noted, charities and advertisers could benefit whilst “looking to engage a whole new audience at a time when they’re receptive to donate or purchase”.
This innovation could be more indication that the space is at an intriguing crossroads. Earlier this week Parks Associates released research stating that Smart TVs will hit a quarter of US households this year, whilst 80% regularly use apps – going against current perceived wisdom on how people use their TVs.
Would you utilise a payment solution such as this?
