Long-delayed LG Pay card will have integrated circuit chip

We’re in the back half of 2016 and that weirdo mobile payments system we’ve been talking since October of last year still isn’t here. What gives, LG?

Well, the Korea Herald is reporting from its sources that the chaebol wants to continue currying favor with banks and card issuers. Read into that what you may, but in the meantime, LG is said to be planning on putting a chip-and-pin mechanism to its physical LG Pay card and utilize one-time passwords.

It’s with this development that LG can easily claim compatibility with every ATM, unlike with other payment services like Android Pay, Wells Fargo Wallet and, the big one, Samsung Pay. The one-time password also puts the card parallel to solutions like Coin and Plastc.

Observers are betting on the next iteration of the V10 to sport LG Pay on it. The official launch might edge toward the end of the year.

Source: Korea Herald
Via: Engadget

Share This Post

Watch the Latest Pocketnow Videos

About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.