Report: Launch Of LG Pay Delayed Until Next Year

LG G5 AH NS logo 2

We live in an age of smartphones, handheld devices that we carry around with us pretty much everywhere, and use them to connect with our friends, family, but also to play games, work, and so on. Smartphones are essentially computers that we get to carry around with us, and the usability of such devices is constantly growing. Smartphones were quite limited at first, but over the years they’ve evolved, as they’re used for many, many things these days. Payments are definitely a great example, a number of companies have launched mobile payment systems in the last couple of years, as Samsung Pay, Android Pay, Apple Pay and Mi Pay have come to play, these are just some examples though, of course.

That being said, we’ve been waiting for LG Pay to come to the spotlight, but that has not happened just yet, which is quite surprising considering we’ve seen quite a few leaks thus far, and the alleged LG Pay card had surfaced in South Korea back in January. Now, LG was actually planning to launch LG Pay on September 29th in Korea, along with its LG V20 flagship, but it seems like that’s not going to happen. According to the source, the company has opted to delay the launch of LG Pay to next year, as they’re having problems testing the service in Korea. Now, the report says that LG is having issues pairing the service with the universal payment ‘White Card’, as that card was not commercialized in Korea. So, what is the ‘White Card’ you might wonder, well, it’s essentially a physical card with both debit and credit card information on it, and it’s connected to your smartphone via NFC, while it also supports both IC and mag-stripe payments. Now, as per the report that is coming from NewsOne, a Korea-based news site, LG has finished developing the LG Pay White Card, but they’re having issues with its testing, and are forced to postpone the launch of LG Pay because of it.

These are, of course, not exactly good news for the company, as their competitors are grabbing market by storm, especially Samsung. The company’s Samsung Pay service had reached 2 trillion won in transactions in Korea last month, and has been around for over a year now, while LG Pay is nowhere to be found. One thing is for sure, if this report is to be believed, LG will have a lot of catching up to do.