LG is widely expected to officially announce the LG Pay White Card at MWC 2016.
Designed to replace the credit card, the purported LG Pay White Card now surfaced online, revealing more details on the expected features.
Korean news site ETNews leaked photos of the card, noting that LG Electronics tried hard to keep the information unknown to the public until now.
According to the site, the upcoming LG Pay White Card is designed not only for making payments at partner retail stores, but also for withdrawing money from an ATM. Consumers can also use the LG Pay White Card akin to using a credit card.
One interesting feature of the card is how it allows users to easily switch between cards when they need to pay for their purchases at retail shops. Using this feature can be very helpful when a customer wants to take advantage of a card's exclusively offered benefits depending on which store it is used at.
The new LG Pay White Card may revolutionize the way credit cards are currently designed, if the leaked photos proved to be authentic. Probing closer, the card boasts a small liquid crystal display along with a power button and a Lock function. This gives the impression that the card would require charging using separate charging equipment.
The card's charging terminal is marked on the left side, as ETNews points out. LG Electronics plans to launch the so-called "White Card Charger" which will be solely designed to charge the upcoming LG Pay White Card.
In November, Tech Times reported on LG's recent partnership with card companies Kookmin Card and Shinhan Card as the company gears up for the launch of LG Pay.
However, LG seemed to deviate a bit from the tracks taken by Apple and Samsung when it comes to using a smartphone as an accompanying hardware in their respective mobile payment systems. Reports say that the LG system may simply depend on the use of its proprietary payment card.
LG is currently running a test on the payment linkage of its system with a number of VAN companies. The company is said to have preordered about 50,000 White Card units in preparation for the launch. Talks on mass-producing the White Card are currently in progress with a card company in South Korea.
