LG Electronics plans to unveil a universal payment card that links users' debit and credit cards in one place, according to Korea's Electronic Times, who obtained a photo of the unreleased tool.
It's reported the South Korea-based electronics giant will call it the LG Pay "White Card", looking to take on other mobile payment solutions from Apple, Google, Samsung, and others.
Shaped like a regular credit card, the LG "White Card" includes a small LCD screen users can select which debit or credit card they want to use to make a transaction. It can also store loyalty cards that can be selected during a purchase.
There are two buttons that allow users to select between cards and a charging connector for keeping the device powered.
LG is said to unveil the "White Card" during the Mobile World Conference during February in Barcelona. There's no word on pricing or availability. LG is apparently planning a pretty small launch for the "White Card", ordering only 50,000 to be made during the first production run. LG is said to be working to find more partners to develop the "White Card".
This isn't the first time we've seen a universal payment card, as many smaller startup companies like the Coin and Plastic have worked to make it go main-stream -- without much luck. The key is having payment providers who will link their cards to a universal smart card, something LG is said to have already sorted out for the South Korea market.
The White Card is a deviation away from the industry standard of storing cards on a smartphone. It's not clear if LG's mobile payment solution will include both smartphone app and universal card functionality.
LG has confirmed in the past it will unveil a mobile solution, with one of its partner companies saying in a statement last year: "The LG Pay mobile payment service will provide a consumer-oriented and general-purpose payment experience from the existing mobile payment systems."