Long-delayed LG Pay card will have integrated circuit chip
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.