There are a number of mobile payment solutions, including Apple Pay, Google Pay, and Samsung Pay, and with an Android phone everyone has at least Google Pay support. LG now joins Samsung in launching a more advanced payment system for its branded phones that supports magnetic secure transmission (MST) functionality, opening up more retailers for support of the new LG Pay payment system.
MST means you can use the phone to mimic a credit card at magnetic stripe terminals so even if a store says it does not support phone payment methods you just may be able to use the LG G8 to make these payments and keep your card in your wallet. I've surprised a few retailers by using my Samsung phone in the past and now LG phone owners can do the same.
LG Pay launched last week in the US with support for the LG G8 ThinQ to start. Support for the LG V40, V50 5G, V35, and G7 is scheduled for the coming months. I installed it on the LG G8 and will be testing it when my bank is supported.
At launch, LG Pay supports the following banking institutions:
- SECU: State Employees Credit Union (North Carolina)
- PNC Bank
- Regions Bank
- US Bank
- Virginia Credit Union
You can add credit and debit cards from these banks and then swipe up on your home screen to pay at the register. You can also use voice commands to launch and pay with LG Pay. If your phone is lost or stolen, you can visit MyLGPay.com to remove cards registered within the app.
In addition to mobile payments, you can use LG Pay to store, use, purchase, and send gift cards. Rather than having a wallet or purse full of gift cards, you can use your phone to store them all. If your gift card recipient happens to also have LG Pay, they can even switch the gift card you sent to them for another retailer if they prefer a different retailer than the one you gifted to them. This is an interesting one-time use, but it's going to require a couple of LG users to make it happen.
Retailer loyalty cards can also be added to the LG Pay app. I have more of these than gift cards so plan to load up the LG G8 with various loyalty cards with support for up to 50 cards in the app. The barcode for the loyalty card will appear on your display when selected so that you can hold up your phone and scan in the loyalty card info.
LG also offers the LG Pay Perks card option that gives you money back when you use the card on your phone to make purchases. This is a virtual Visa reward card that can be used in-store where Visa is accepted.