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Samsung Electronics announced Samsung Money by SoFi, which combines a debit card with Samsung Pay, which has a mobile payment function.
Samsung Money is issued in partnership with SoFi, a debit card fintech company under the Mastercard brand. Samsung Pay, Samsung Electronics’ mobile payment system, can also be linked here. Samsung Money’s account maintenance fee is free, and interest rates are set higher than the average US interest rate. Debit cards exist for both virtual and physical cards. Card numbers, expiration dates, and security codes are not printed on physical cards. You can check detailed information such as balance inquiry and usage history through the app.
In addition, you can earn points every time you purchase a product through Samsung Pay. If you accumulate more than 1,000 points, you can convert them into cash to deposit into your Samsung Pay account. As such, one of the technology companies in the card business is Apple Pay, a credit card from Apple. In addition, there are rumors that Google will also use its own debit card, Google Card.
Samsung Money is scheduled to start service in the US later this summer. Related information can be found here .
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