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Samsung to Launch Debit Card and Cash Management Accounts to Samsung Pay

Samsung to Launch Debit Card and Cash Management Accounts to Samsung Pay

Enterprise & IT May 7,2020 0

This summer Samsung in partnership with SoFi will introduce a new Samsung Pay experience with a debit card backed by a cash management account.

"In 2020, Samsung Pay will be expanding the service from being a rewarding way to shop and pay, to also being a rewarding way to manage money. Over the past year we have been developing a mobile-first money management platform," Samsung said.

The company promised to share more details in the coming weeks.

Samsung created Samsung Pay in 2015 as a powerful tool for managing your finances using the device that’s always at your fingertips. Back then, Samsung Pay was the only mobile payments platform with built-in magnetic secure transmission technology (MST) along with NFC functionality, making it possible to pay practically anywhere you can swipe a card. Even today, Samsung’s MST technology remains unique among mobile wallets.

Samsung Pay was the first mobile payments platform to launch a rewards program, allowing users to earn Samsung Rewards points with each transaction, in addition to the points they earn from their underlying bank cards; the first mobile payments platform to launch a Cashback service for online shopping (Samsung Pay Cashback); and forged partnerships with top financial institutions to ensure Samsung Pay is accepted virtually anywhere.

Tags: Samsung Pay
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