The LG "White" Card resembles a credit card, except that it features a small LCD display showing the user which of his credit cards is being used for a transaction. There are connector pins on the side of the card for charging it, and small arrows that help the user run through his credit cards so that he can decide which one to use for a specific transaction. The arrows also help lock the card so that others can't use it.
LG reportedly has already agreed to terms with several Korean payment providers, which means that the card will probably launch first in LG's backyard before coming to the U.S. That is the same path that Samsung followed with Samsung Pay, and dovetails with the speculation from last October.
LG is holding an event on February 21st, the day before MWC kicks off in Barcelona. We now expect to hear about the LG "White" Card in addition to the LG G5.