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Will LG's payment card succeed where others have failed?
A new report out of the Korea Herald revives the rumor that LG's going to try something different with its own foray into mobile payments. As we reported earlier this year, the company has been working on a system that uses a standalone digital credit card rather than an NFC chip inside your smartphone. Apparently the Korean conglomerate had planned to launch the product at the start of the year, but held off to foster better relations with banks. But given how other attempts at reinventing the credit card have gone, is LG really going to crack a winning formula?
LG will reportedly unveil a universal payment card next month
When LG announced it was readying its own payments service last year, it appeared that the company would follow the path travelled by Apple, Google and Samsung and launch a mobile-first solution. However, if this leak from Korea's Electronic Times is anything to go by, LG Pay won't require a smartphone at all, but instead try to replace all of your credit and debit cards with a universal solution called the "White Card."
