March 22, 2017Blog Posts

LG Pay to communicate mag-stripe data through deal with Dynamics

Finextra:

Dynamics Inc., an innovator in next-generation payment systems, is proud to announce the incorporation of its proprietary Wireless Magnetic Communication (WMC) technology into the mobile payment strategy of LG Electronics. The game-changing technology revolutionizes mobile payments by allowing LG mobile phones to wirelessly communicate traditional magnetic stripe information directly to traditional magnetic stripe readers. An early version of the company’s WMC technology will be featured on the LG G6 in certain markets with a more advanced version of Dynamics Inc.’s system to appear more widely next year.

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