Samsung announced today that it is planning to launch a Samsung Pay debit card this summer. This update was shared via a blog post by Sang Ahn, vice president, and general manager of Samsung Pay in North America.
Sang said that the company will launch the card which will be backed up by a cash management account, in partnership with personal finance company SoFi. In addition to that, the South Korean tech giant is also developing a “mobile-first money management platform,” according to Ahn.
Although the blog doesn’t share any details related to what features that money management platform or the upcoming debit card may have, he mentioned that the company will soon share more details in the coming weeks.
This is not the first time that a tech giant is jumping into the personal finance game. Earlier, Apple had also launched its Apple Card back in August 2019. Basically, Apple Card is a credit card issued in partnership with Goldman Sachs. Also, we have heard rumors that Google is also planning to launch its Google Pay Card in the future which will be a debit card just like Samsung’s. Google will also supposedly offer spending-tracking tools for the card.
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