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A new report has appeared which suggests that LG will be using MST (Magnetic Secure Transmission) technology for its mobile payment system within the LG G6. The company originally was developing the “White Card” to be coupled with LG Pay-compatible devices. However, this plan has seemingly been scrapped.
The “White Card” was LG’s way of making an introduction onto the market, while keeping users payment information secure. However, this required the user to carry another card in their wallet, which seems counter-productive. The reason that this has been scrapped in favor of MST is all about convenience. LG believes that the market is better served with MST payments, instead of users having to rely on another card in their wallet.
The biggest benefit to using MST is that not only will customers not have to rely on another card, but they can simply hold their devices close to the credit card terminal. This works even on the older terminals that don’t include the NFC landing pad, so you can just put your device next to the terminal and keep it moving.
Samsung has been developing MST for Samsung Pay and has introduced the technology in several devices, including the upcoming Samsung Gear S3 smartwatch. Due to the amount of work that Samsung has already performed for the development of MST, LG will be developing its own version from the ground-up to avoid any patent disputes with Samsung.
After developing a non-infringing version of MST for LG Pay, the next hurdle for the company is getting the different credit card companies on board. Though, there are plans set in place for LG to begin meeting with credit card companies “at the end of this month”.
LG Pay had already been delayed a few times after initially being expected to be released earlier this year. The last report that was received was that LG would be delaying the release of its mobile payment solution to 2017, but now that the “White Card” has been scrapped, it may be even longer.
[ET News]
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