Samsung Pay celebrates 5 years by announcing the arrival of a physical debit card (updated: more details)

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Samsung continues to be decidedly interested in expanding its own services in the world financial, where he took his first steps 5 years ago with the launch of Samsung Pay, the application that allows you to turn your smartphone into a card payment contactless.

In 2020 the plan was to turn your smartphone into a POS, able even to receive payments, and not only to send them (as already tested in Canada). But that’s not all: the latest news is that Samsung is working to release a “innovative paper of debt, in the wake of what has been seen with Apple (with the difference of not being able to do credit).

The novelty comes directly from the Samsung site, where the company indulges in very few details, revealing only the name of the partner for the launch (scheduled this summer, it is not clear where), which will be SoFi. You just have to wait for the next few weeks to find out more. Do you like the idea?

Update05/27/2020

Samsung has released some of the details on the project, which will be officially called Samsung Money by Sofi and will leave the United States as early as this summer.

Obviously, being an integral part of Samsung Pay, only owners of an enabled smartphone will be able to use it (for the Galaxy series it starts from S6, for example). The physical card is completely presented bare of any number: all information (card number, expiry date, CVV) will in fact be included within the application.

They can be opened individual accounts or shared, and at least in the United States Samsung promises zero commissions is higher interest rates compared to traditional banks, in addition to a banking system rewards based on the accumulation of points (for those who want to enroll in the Samsung Rewards program).

By opening an account you will instantly receive one virtual card, which will then be joined by a physics that can be activated via NFC. As already mentioned, the control of everything will then pass through the Samsung Pay application, which will show a report of transactions and the various options for lock / unlock the card and change the PIN.

The waiting list reserved for the American public is already open. For the first activation, a minimum of $ 10 top-up is required. If you want to keep up with the updates, we still recommend you to register. There is still no news on the rest of the world.



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https://www.androidworld.it/2020/05/27/samsung-pay-festeggia-5-anni-annunciando-larrivo-carta-debito-fisica-713718/

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