Samsung introduced its secure and easy-to-use mobile payment system, Samsung Pay, back in 2015 to make mobile payments. Now, to celebrate the five-year anniversary of Samsung Pay, the company will launch a physical debit card this summer.
The announcement comes from a blog post by Ego, VP and GM with Samsung Pay in the North American division. According to the Post, the company has been working for the last five years to bring “new experiences” to the Samsung Pay mobile payments platform. The Samsung Pay team collaborated with several major financial innovators to achieve that feat.
Now, the company plans to launch an “innovative” debit card in association with financial services provider SoFi. This will be a physical card that will be supported by a cash management account.
Apart from the above information, the blog post does not detail other features that come with the Samsung Pay debit card. Ahan wrote that they would “share more details in the coming weeks”. Therefore, we have no choice but to wait for the coming weeks to know what benefits the Samsung card will bring to customers.
Now, we saw that Apple made an Apple card with Goldman Sachs and recently we heard rumors of Google making its debit card. Therefore, at this time the announcement of a new physical debit card was expected from Samsung as we know that technology companies are now concentrating their resources in financial services.