LG Electronics “reveals own mobile payment card”

LG Electronics “reveals own mobile payment card”

PanARMENIAN.Net - LG Electronics’ mobile payment solution called LG Pay “White Card” has finally revealed itself. LG Electronics had been working hard not to leak any information to outside by not affirming or denying truth of White Card until now, Electronic Times reports.

After looking at actual “White Card,” which is LG Pay payment media, its shape is very similar to a normal credit card. There is not much difference in thickness either.

LG Electronics had designed it so that not only one can make a payment at a normal retail store, but he or she can also withdraw money from ATM with it. It had applied behavior of credit card users as it is to it. This can be seen as LG Electronics’ strategy to induce elder people who are not familiar with Smartphone payments and introduce group of people that tend to spend more money than others.

According to IT, finance, and distribution industries, LG Electronics had recently pre-ordered about 50,000 White Cards for White Card’s release. It is currently discussing with a South Korean Smart Card business about mass-production of White Card.

LG Electronics is currently testing payments with many VAN companies for payment linkage and is planning to introduce it at MWC 2016 that will be held next month.

Although LG Pay is going to support IC payment along with MS, LG Pay that will be introduced during first half will only support MS transactions.

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