LG may be late to the mobile payments game, but the company could have something big coming later this year to compete with Apple Pay, Android Pay and Samsung Pay. A new report claims a physical LG Pay card is set to arrive in September with at least one feature that rival services can’t match.
The Korea Herald said that LG Pay will launch as a physical card meant to replace all of your other credit and debit cards. It may also feature an integrated circuit chip and one-time password protection. That extra security would apparently make it possible to withdraw cash from an ATM using LG Pay, which isn’t possible with any of the other major software-based services.
LG originally planned to launch its mobile payment service in the first half of the year, but apparently pushed the release back to partner with even more banks and card companies first. The smart banking card could launch this fall alongside the company’s next flagship phone, which should offer LG Pay support out of the box. The new phone is probably a follow-up to the LG V10, though rumor has it LG is also working on a new addition to its G Flex series.