Mobile payments are a hot feature these days, and everyone wants a piece of the pie. In the Android world, we already have a couple of different options when it comes to paying for things with our phones. Samsung Pay works on Samsung devices; Android Pay works on most devices. A new report suggests that LG is working on their own method, but it won’t be like anything like other methods.
A report out of Korea suggests that LG is working on an electronic card. The card will allow users to register multiple credit cards on one card. If the idea sounds familiar, we’ve seen devices like Coin and Plastic attempt to do the same thing. So far, no one has been able to hit this idea out of the park. LG has more resources and technology to make their card a success.
The LG Pay “White” card will have a small LCD display and very basic controls. It will reportedly work with magnetic strip card readers, but not the new chip readers. The report goes on to say that LG is already in the process of signing up Korean card companies. The advantage of a physical card is it can work in more places than a phone. Do people want to replace their cards with another card, or replace their cards entirely with a phone?
What do you think of these type of payment systems? Would you prefer a physical “smart” card or a mobile payment app on your phone?