LG Pay with magstripe terminal support goes live in the US for the G8, coming soon to the G7, V35, V40, and V50
You may not realize it, but LG Pay debuted over 2 years ago. Rumors of the service go all the way back to 2015. Unfortunately, when LG Pay launched it was exclusive to South Korea. There were reports saying it would come to the US in June of 2018, but that never happened. Finally, LG Pay is available in the US.
LG Pay is similar to Samsung Pay. Unlike Google Pay and Apple Pay, LG Pay can be used at terminals that don’t support NFC payments. Samsung Pay uses “Magnetic Secure Transmission” (MST) to achieve this, whereas LG is using “Wireless Magnetic Communications” (WMC). They function essentially the same: hold the phone up to a payment terminal and it mimics the magnetic stripe on a credit card.
Another perk of LG Pay is the company’s partnership with Swych, a service that enables users to buy, send, swap, and upload gift cards. You can store and buy gift cards right in the LG Pay app. LG also has a perk literally called “Pay Perks” that allows you to redeem offers for real money that gets loaded onto a virtual Visa card.
Starting today, LG Pay is available in the US on the LG G8 ThinQ. It will support the LG V50 ThinQ, LG V40 ThinQ, LG G7 ThinQ, and LG V35 ThinQ in the “coming months.” If you own the G8, you can download the app from the Play Store now. Once installed, it can be quickly opened with a swipe up from the bottom of the screen. The credit cards and banks below are supported at launch.
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