Samsung wants to offer during the summer a credit card, linked to a current account. "Samsung Money by SoFi is our biggest initiative yet to help users get more done with their money," said Sang Ahn, vice president and general manager of Samsung Pay. He added that now "users can access financial services above all mobile and benefit from exclusive Samsung advantages".
Samsung said in its statement that people rely more and more on technology, especially to pay, buy or manage their finances. "Many people prefer payment methods that can pay interest instead of paying it," says Sang Ahn. Among the benefits of the Samsung payment card: "No account fees, higher interest, a money management experience that combines the convenience of mobile payments and the control of a debit card."
Users will first have a virtual card in Samsung Pay, and then receive the physical card by mail. Like the Apple Card, activation is done on the phone. A sober, black menu. The services are available on the application: “users can check their balance, consult previous statements and search for transactions. They can report suspicious activity, suspend or restart spending, freeze or thaw their card, change their PIN code ”.
Points for each purchase made
The physical debit card will not display a card number, expiration date, or visual cryptogram. Users will find this information in the “Money” tab of the application, protected by biometric or PIN authentication.
The Samsung Rewards program offers to earn points for each purchase made with Samsung Pay. From 1000 points, users "will be able to exchange their points for money".
A broad, long-term partnership
SoFi is an American fintech. This partnership "marks the beginning of a new partnership between Samsung and SoFi", we read in the press release. "We are delighted to partner with Samsung, a world-class technology company, to help energize this next-generation financial experience, while exponentially expanding the impact of SoFi," said SoFi CEO Anthony Noto.
Our High-tech file
On the side of MasterCard, Jorn Lambert, executive vice-president, explains that "we are witnessing a seismic change around the world as consumers go digital and expect safe and frictionless experiences".
To test the card, you will have to be patient. Samsung Money will begin to be available to American consumers over the summer.
High-Tech
Like Apple, Google would like to offer a credit card service
Economy
Withdrawal or payment limits, what limits for a bank card?
- Bank
- Economy
- Smartphone
- Payment
- Apple
- Bank card
- Samsung
- High-Tech