LG appears ready to debut its mobile payment system in the United States as it has published its LG Wallet. The logo for the app gives a nod to the LG Pay system that’s been established in Korea.
LG Wallet looks to work like most mobile payment apps — it stores credit and debit card credentials to run tokenized tap-to-pay transactions at NFC point-of-sale terminals. At this point, the Wallet seems to only support Visa and MasterCard issues and has a special “LG Perks” loyalty card of some sort, perhaps to reward habitual use of the app.
This passage, though, gives plenty more away:
You can install this application only if you have G7. More handsets will be available in the future.
While branding can change at any second up until commercialization, we at least know that LG is considering putting the G7 name to its next springtime flagship — with recent rumors placing bets on “GX” or “G10,” the company did officially leave itself to a name change in a statement. Current speculation is that it will launch at MWC.
Oddly enough, existing LG phones such as the V30, G6 and V20 are able to download the app as of now. However, much like the service, a website associated with LG Pay has yet to go live as of press time. Maybe this launch will tie in with the G7’s…[alert variation=”alert-warning”]Update: The app has been pulled from the Play Store, which isn’t really a surprise considering that the app was a quicky, collapsing mess. It featured the introduction panels to the Korean version of the app and when users tapped “Get Started,” it loaded something for an indefinite amount of time.
The mystique remains.[/alert]