LG G6 release date, specs rumors, news: next flagship entry to come with its own mobile payment platform

South Korean tech giant LG is now tipped to be throwing its entry in an otherwise not-so-frequented feature among its competition in the smartphone-manufacturing industry. No, it won't be heading to an edge-to-edge display or embed a dual Optical Image Stabilization (OIS) on its camera either — LG is now on all fours in introducing its fresher take on mobile payment platform, LG Pay.

A noted rival to Samsung Pay and Android Pay, LG Pay was previously hinted to be launched with LG's audio-centric smartphone, the LG V20, which was just released recently. As per Korean publication OneNews, the company has decided to postpone the platform for a 2017 launching due to issues that surfaced during the testing period.

LG has announced earlier this year that it has secured deals with two major credit card companies in South Korea, Shinhan Card and KB Kookmin Card. It will reportedly use Near-Field Communication (NFC) technology, akin to what Apple Inc., Android and Samsung have been sporting for their respective payment platforms.

Meanwhile, the purported LG payment platform may be launching first in the company's mainland country first before it branches itself out globally. Despite this development, a specific launch date has not been disclosed. On the other hand, LG Pay is now tipped to be introduced once LG G6 gets unveiled.

LG G6 has also been rumored to be touting the firm's iris-scanning technology. Korea Herald has shared, "LG Electronics is rumored to adopt several new technologies, including iris recognition and mobile payment for its upcoming flagship smartphone, G6. Experts said the tech firm needs to blow the competition out of the water with the G6 in order to make up for the 800 billion won ($67 million) loss caused by the failure of the previous G5 model."

Meanwhile, the same publication has added that LG is planning to introduce the technology in an all-in-one module, which is set to house both the camera and iris scanner for the forthcoming device.