Apple was the first company to fully enter the financial sector with its Apple Card, a credit card provided to users of iPhone or iPad devices. Shortly thereafter, we learned that Google intends to activate your Google Pay associated card.
But the two American giants are not alone. A few weeks ago, Huawei announced the launch of its own card, the Huawei Card. And now it is Samsung the one who just confirmed that, this summer, will issue a debit card compatible with Samsung Pay.
Samsung will try to gain a foothold in the fintech sector with its debit card
As evidenced by the company in a post on its official news blog celebrating its five-year anniversary, the aim is makes Samsung Pay a platform that allows users to manage their money, in addition to offering a way for mobile payments and rewards – in this sense, Samsung confirms that, since its launch, it has distributed over $ 13,000 worth of Samsung Reward points.
In this case, the first step of this long-term plan is passing start a debit card from the financial company SoFi. Samsung called it a "functional bank card backed by a money management account."
“Samsung Pay Pay is here to help you do more. This summer, Samsung and its SoFi partners will bring a debit card and cash management account to Samsung Pay. ”
As SoFi is not a bank, Customer fees for this card will be managed by WSFS Financial Corporation, one of the largest financial companies in the United States, being one of the oldest. Its main sponsor is WSFS Bank, and it will be owned by the company for which this service is to be used create a bank account associated with the Samsung Pay debit card.
For now, Samsung and SoFi are not revealing more details about the app, which should be available sometime next summer. And we do not know what the conditions will be or what regions will be available.
Taking care of that, today, Samsung Pay is already one of the most versatile payment platforms due to payment support communication through the NFC and MST program, which combines its own rewards system and has a large user community, Having a debit card of your own It can attract a much larger audience, and it can be a fun ride for the company.
Despite this, is still curious how big technology machines continue to bet on this kind of old payment methods, even more so by the middle of 2020, when difficulties created by the new Coronavirus start mobile payments, and platforms like Google Pay, Apple Pay or Samsung Pay continue, even for those users who were still hesitant about this kind of system .
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About Christian Collado
Growth Editor at Andro4all, specializing in SEO. I am studying software development and writing about technology, especially about the Android world and everything related to Google since 2016. You can follow me On Twitter, email me if you have something to tell me, or contact me via my LinkedIn profile.
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