LG Pay is a mobile payment and digital wallet service by LG Electronics that lets users make payments using compatible phones and in the future are other LG-produced devices. The service supports contactless payments using near-field communications (NFC), but also incorporates wireless magnetic communication that allows contactless payments to be used on payment terminals that only support magnetic stripe and normal contactless cards.
|Initial release||June 2, 2017|
|Platform||Selected LG G series & LG V series smartphones|
LG Pay was developed from the intellectual property of Dynamics and has announced plans since November 2015. The service supports both NFC-based mobile payment systems (which are prioritized when support is detected), as well as those that only support magnetic stripes. This is accomplished via technology known as "Wireless Magnetic Communication" (WMC), which transmits card data to a payment terminal's swipe slot via emitting wireless magnetic data pulses, causing the terminal to register it as if it were a normal magnetic stripe. 
On phones, the menu of the wallet is launched by swiping from the bottom of the screen. Different credit, debit and loyalty cards can be loaded into the app, and selected by swiping between them on-screen.
LG Pay's security measures are based on LG Mobile and South Korean card companies such as Shinhan Card technologies; credit card information is stored in a secure token. Payments must be authenticated using either a one-time password, fingerprint scan, or later on using 3D facial recognition .
|Date||Support for payment cards issued in|
|June 02, 2017||South Korea|
|July 16, 2019||USA|
In 2016, it was reported that LG was developing a white-card system that stores all card info of different banks/companies under one physical card that looks akin to a regular credit card. As of the launch, there are no further updates if such system would still push through.
In 2019, LG Pay is officially launched in United States with a cash back rewards program.
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- Jules Wang (2019-07-17). "LG Pay debuts in US with magstripe reading and cash back rewards program". androidpolice.com. Retrieved 2019-07-19.
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