According to new reports, LG is planning to add MST technology to its next flagship smartphone, tentatively believed to be the LG G6, slated for release in early 2017. The move to incorporate MST also means LG is giving up on a competing technology it had been working on for the phone called the White Card method. According to insiders, LG is already working with partners on all of the parts to implement MST and has also started to negotiate with credit card companies to participate in their payment system.
MST, or Magnetic Secure Transmission, may be familiar to you as it is the technology used by Samsung for their Samsung Pay app and service. MST is a flexible solution that can be used at any card reader that is capable of reading a normal magnetic strip from a credit card. Which basically means MST can be used to make payments virtually anywhere. In comparison, platforms like Android Pay and Apple Pay rely on NFC, which means only retailers that have invested in the hardware upgrading their card readers can accept payments via those platforms.
According to several sources, they believe one of the challenges that exists for LG is that they have to develop MST capabilities that avoid infringing on Samsung's patents for the technology. Most of those were acquired by Samsung when they purchased LoopPay, the original developer of the system.
Another alternative may exist though, and that is that LG has secured rights to this technology from Samsung. Recent reports suggest Samsung has shifted to LG as a supplier for batteries for their upcoming smartphones after the Galaxy Note 7 debacle. It is entirely possible that part of the deal Samsung had to make in order to show the markets it was correcting an explosive problem was to not only buy batteries from LG, but to throw in rights to the MST technology.
source: ETNews
via: Droid Life
Out to date in Canada this kind of technology..