Is this a "big fish follows little fish" kind of thing? The latest rumors from Korea suggest that LG is working on their own mobile payment system to rival Samsung Pay and Apple Pay (and Android Pay, etc). It will apprarently be called, LG G Pay, and it could use similar technology to what Samsung uses in Samsung Pay.
This suggests that G Pay will be designed to be used with existing magnetic strip...
LG Rumored to be Working on 'G Pay' Mobile Payment Service
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