Samsung to launch Samsung Pay debit card

Samsung Pay has announced new initiatives that expand its services for the year 2020.

According to Samsung, it will add mobile financial services and money management tools on top of its payment services. Last 2019, Samsung has been developing a mobile-first money management platform with American online personal finance company SoFi.

As a new Samsung Pay experience, users can now have a debit card backed by a cash management account.

Since its launch in 2015, Samsung Pay has launched a rewards program for its in addition to the points they earn from their underlying bank cards, a cashback service for online shopping, and partnerships with top financial institutions to add it as a valid payment option.

Samsung did not disclose more about its features but the company said that more updates will be revealed next week.

Source: Samsung Newsroom