The LG Pay was made official last November a few weeks after the company filed for the 'G Pay' trademark. We learned then that it would be different from the Apple Pay and Samsung Pay because the LG Pay would work on not just a specific model or series but on all LG phones. Now we've got more details about this new LG Pay--it's going to be a credit card replacement.
So it's another mobile payment service then? Yes, but it won't need any phone. An LG Pay White Card surfaced online. No doubt the images are real. It's a credit card-sized plastic that can process payments from any credit, debit, or bank accounts of the user. Instead of saving the details on a smartphone, this card will be enough to make purchases on physical stores.
The LG Pay White Card looks like a more advanced credit card. It has a small low-power LCD display on the upper right side, metal connectors on the left, and two buttons on the lower bottom. LG Pay won't need any compatible smartphone. You only need this White Card. That's different from Samsung-, Apple-, and Google Pay in that sense but they are all able to make wireless payments sans the cards. What's good about the LG Pay is that you can save all bank accounts and credit/debit cards and quickly switch between them.
The card needs to be "recharged" and those metal pins are said to be for recharging and maybe work something like a credit card chip. The two buttons will be used for switching between cards while the small screen will indicate status of the card--if it's active or not. We also heard that this card can be used on an ATM to withdraw cash.
The LG Pay White Card seems to be like an all-in-one card. An LG Pay partner said that transactions would be between the person and the finance company directly--nothing between LG and the user. We're not sure if this will sell compared to the pure wireless and mobile experience the other companies offer but LG is rumored to have ordered 50,000 White Cards already.
We're told to expect this at the Mobile World Congress this February. We're more eager to know how if this will be a success. What do you think?