LG Pay launches for U.S. smartphones with G+D Mobile Security token services
The LG Pay mobile payment service has been launched in the U.S., supported by Visa and Mastercard and leveraging the Convego CloudPay service from G+D Mobile Security for deployment, provisioning and lifecycle management of virtual payment cards.
The U.S. is the second market, after LG’s home country of South Korea, where LG Pay has become available on flagship smartphones from LG Electronics, enabling users to add their physical Mastercard and Visa cards to their mobile phones with just a few clicks, according to the announcement by G+D Mobile Security. Contactless payments can be made with LG Pay by near-field communications, but it also supports payments at magnetic stripe-only terminals with Wireless Magnetic Communication.
G+D’s Convego CloudPay provides token aggregation across the payment networks for LG Pay, and is connected to Mastercard Digital Enablement Service (MDES) and Visa Token Service (VTS) for token provisioning and lifecycle management. The necessary tokens for each payment transaction are requested and transmitted reliably and securely to LG smartphones with Convego CloudPay.
G+D Mobile Security says it enables LG to scale transparently across payment schemes and increase the security of its mobile payment service, and to easily extend payment services to other service providers and provide a consistent user experience.
“We are proud to be the first provider worldwide to support one of the leading mobile device manufacturers with such an implementation,” says Carsten Ahrens, CEO of G+D Mobile Security. “We consider the partnership with LG as another proof of the market leadership of our mobile payment solutions competence and look forward to continue developing LG Pay together with LG.”
G+D Mobile Security is also working on biometric payment cards, and recently launched a trial with Fingerprint Cards technology for Crédit Agricole.