Samsung is planning to launch a Samsung pay debit card in the name of its mobile payment service Samsung Pay and for this, an agreement has been made with the personal finance company.
South Korean company Samsung is also going to launch a debit card in the market called Samsung Pay soon. It is the company’s mobile payment service and it works only on Samsung smartphones. At the same time, according to the report, the company will also launch the Samsung Pay debit card this year, which will prove to be very useful for users. With the help of this debit card, shopping will become even easier.
Samsung Pay Vice President and GM Sang Ahn says,
We have been expanding our service for the last one year and we were busy developing the mobile first money management platform’. He also said in his blog post that mobile finance services and money management tools will play an important role in our daily lives and will introduce new possibilities. Samsung has partnered with personal finance company SoFi for Samsung Pay debit card and in the coming weeks the company will share more information related to Samsung Pay debit card.
However, the company has not yet made any disclosure about the features and usage of this Pay debit card. For this, users will have to wait a little longer.
Having said this, in October last year, Samsung together with MasterCard and Netspend launched its Cash Virtual Card. This feature is available in the Samsung App. This feature was introduced to improve budget management and payments service. Like Pay, users can use Pay Cash anytime, anywhere. Also, users can also add money to this virtual account. It can be easily used for offline and online payment. This pay cash feature also helps the user to plan their expenses.
It’s worth noting that Samsung already offers the Pay service to its consumers. The service has now completed five years. In the meanwhile, Apple has experimented with self-branded Apple Card, a credit card launched in partnership with Goldman Sachs. The card is however limited to Apple’s ecosystem.
While Apple has already taken a lead and Samsung has confirmed its plans, Google is also said to be working on something similar. According to a recent report, the ‘Google Card’ will be launched in partnership with VISA. The debit card will work through a Google app with transactions and other relevant details.
