LG Electronics today announced plans to develop and deploy its own mobile payment service.

"It's official! We have partnered with Shinhan Card and KB Kookmin Card to prepare for the launch of LG Pay," the company wrote in the caption of a photo posted to Facebook.

Details are light, though 9to5Google reported the function will work on most LG phones with NFC, and is not compatible with other platforms or manufacturers.

Expected to roll out first in LG's native South Korea, there is no word on whether the program will reach international users to compete with payment systems from Apple, Google, and Samsung.

LG did not immediately respond to PCMag's request for comment, but it told TechCrunch it "will have more details in the coming weeks."

Apple, Samsung, and Google are already vying for control of the market. Cupertino just expanded Apple Pay to Canada and Australia, and it will soon arrive at retailers like Cinnabon, Domino's, Starbucks, KFC, and Chili's.

Google's Android Pay, meanwhile, launched in May, allowing users to pay by simply waving their phone over a compatible terminal. Samsung Pay is also available on all major U.S. wireless networks via the Galaxy S6, S6 Edge, S6 Edge+, and Note 5.