Samsung has announced plans to launch a Samsung Pay debit card this summer. The company made this know in a blog post by Sang Ahn, the vice president, and general manager of Samsung Pay in North America.
The electronics giant will launch the card, which will be backed by a cash management account, in partnership with personal finance company SoFi, Ahn said.
According to Ahn, Samsung is also developing a “mobile-first money management platform.” However, the blog post didn’t say much about the features that the money management platform or the upcoming debit card may have, but he does say that Samsung will share more details “in the coming weeks.”
Samsung like Apple now has a branded payment card. Apple launched its Apple card in August 2019, a credit card issued in partnership with Goldman Sachs. The Apple Card is both a titanium card you can put in your wallet and a digital card you can use via Apple Pay on your iPhone and Apple Watch, and you can track spending on your Apple Card inside iOS’s Wallet app.
News also making rounds is that Google is also working on its own branded payment card which will also be a debit card like that of Samsung.
