Technology giant LG’s latest payment technology called “LG Pay White Card” can spell doom for traditional debit and credit cards. The project has been a hush-hush affair but certain details and an image of the card has been leaked. The card looks similar to existing cards in its shape and size but drastically different in its appearance. Perhaps the most interesting part about the card is that it is battery powered and can store multiple card details inside a single white card.
That’s right, if this project becomes mainstream, there will be no need to carry multiple cards anymore. While there are already some technologies that allow users to do that, they are smartphone based and hence not usable for elderly people or people who are not smartphone savvy. When making a payment, the user can choose which of the stored cards to pay from based on the offers, discounts and balance. The card can be kept in a switched off mode and started while making a payment. It can also be locked to prevent unwarranted usage. LG will sell the cards along with the chargers.
According to news, the White Card will be unveiled at the Mobile World Congress to be held at Barcelona in February. LG has already roped in a number of card manufacturing giants in this project including Shinhan Card, Lotte Card, KB Card. Hyundai Card and BC Card are soon to join the fray.