Report: LG Pay's White Card to Feature IC Chip

...

Over the past few months, more details have surfaced regarding LG Pay, the company’s mobile payments platform that should launch at some point, although, there is no concrete info on when we should expect it. It was even rumored it would launch this past January, but that didn’t happen. Anyway, a new report out of Korea states that the White Card, which is the consumer-facing end to LG Pay, will feature an IC (Integrated Circuit) chip.

Anyone reading this who has a new credit card probably knows what an IC chip is, as the chips are becoming more widely adopted by financial institutions all across the world. To sum it up, IC chips help protect your credit card data from fraud and cloning, utilizing on-the-spot encryption methods. 

Not only will LG’s White Card feature the IC Chip, but will still work via the traditional MS (magnetic stripe) means. That allows the White Card to not only work at pretty much any terminal now, but any terminal that gets upgraded in the future to only work with IC chips, as they are becoming the worldwide standard for credit card payments.

As a refresher, think of White Card like a master key for your existing catalog of credit and debit cards. Once you upload all of your banking and credit card details onto White Card, you can use this single card for all of your purchasing needs, sort of like Coin used to do with the Coin 2.0 hardware.

Are you pumped for LG Pay and White Card?

Categories
E-COMMERCE
0 Comment

Leave a Reply

Captcha image


RELATED BY

  • 5300c769af79e

    AT&T Brings Wi-Fi Calling to Android

    In October, AT&T launched Wi-Fi calling for iOS devices, and now it's bringing the feature to Android as well.The company plans to bring Wi-Fi calling to more Android devices at some point "soon," Network Operations President Bill Smith wrote in a blog post.
  • 5300c769af79e

    How Upwork Cut Zero-Day File Attacks by 70% | Tech Library

    Upwork has millions of clients and freelancers that have to upload and download many files to and from the platform, over a million files per day by their estimation.Upwork selected data sanitization (CDR) in order to remove threats from files.
  • 5300c769af79e

    It's Time CIO's Get Real About Data Security

    Additionally, data and infrastructure security professionals are being inundated with a constant stream of newly identified security flaws on hardware and software deployed on production networks.It then begs the question, what approach, from a messaging standpoint, should a CIO take when discussing data security with other C-level execs and stakeholders?
  • 5300c769af79e

    DT10: Language. Tech is upending the ways we write, speak, and even think

    ” Payack’s Global Language Monitor tracks the robustness of the English language, which reached 1 million words back in 2009 and grows at about 14.Businesses will have human workers and bot workers, and both will likely have to learn new language tricks to understand one another.