Samsung Pay Debit Card will be launched in partnership with SoFi and it will be backed by a cash management account.
As Samsung celebrates five years since the launch of its in-house mobile payment service – Samsung Pay –
The company is looking at new frontiers to expand its adoption.
We believe the most powerful tool for managing your finances is the device that’s always at your fingertips.
The next step towards achieving that goal is a Samsung Pay Debit Card.
Sang Ahn, VP and GM of Samsung Pay , revealed that “innovative Pay card backed by a cash management account” in partnership with SoFi.
The Pay debit card will arrive this summer, but there are no further details available as of now.
what a cash management account is ? Well, it combines the features and benefits of checking, savings, and investment in broad terms.
Samsung’s move is not unprecedented,
as chief rival Apple already offers a credit card, and Google is also reportedly working on it.
The Next Innovation
In 2020, Samsung Pay will be expanding our service from being a rewarding way to shop and pay, to also way to manage money.
Over the past year we have been busy developing a mobile-first money management platform.