Samsung plans to start a Samsung Pay debit card this summer season, and the company announced today in a weblog publish by Sang Ahn, vice chairman and common supervisor of Samsung Pay in North America (via Android Central). Samsung will launch the cardboard, which shall be backed by a cash management account, in partnership with private finance firm SoFi, Ahn mentioned.
Samsung can be growing a “mobile-first cash administration platform,” in accordance with Ahn. His weblog doesn’t element what options that cash administration platform or the upcoming debit card might have; however, he does say that Samsung will share extra particulars “within the coming weeks.”
Samsung joins Apple in providing a branded payment card. Apple’s is the Apple Card, a bank card issued in partnership with Goldman Sachs, and launched in August 2019. The Apple Card is each a titanium card you possibly can put in your wallet and a digital card you should use through Apple Pay in your iPhone and Apple Watch, and you may monitor spending in your Apple Card inside iOS’s Wallet app.
Google is reportedly working on its personal branded fee card as effectively, although Google’s will apparently be a debit card, like Samsung’s. Google may also supposedly supply spending-tracking instruments for the cardboard.