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Samsung Plans to Join Apple and Google at FinTech Party With Its Own Debit Card

Samsung U.S. has announced that this summer — via a partnership with American personal finance company SoF — it is planning to bring “a debit card and cash management account to the Samsung Pay experience.”

In yesterday’s press releaseSang Ahn, Vice President and GM of Samsung Pay (North America Service Business), said that “more than ever, people are counting on technology to help them make contactless payments, shop, and manage their finances without leaving the house” and that Samsung “wants to help”

He went in to say that since the launch of the Samsung Pay service (which allows users of select Samsung Galaxy phones pay for goods/services “practically anywhere you can swipe a card”) in 2015, Samsung has “collaborated with leading innovators to bring new experiences to life that make it easier to take care of the things that matter most.”

He then said that Samsung plans to expand Samsung Pay so that it becomes “a rewarding way to manage money.”

On 25 March 2019, Apple announced Apple Card, which is a credit card created by Apple and issued by Goldman Sachs. Apple Card got launched in the U.S. on 20 August 2019.

On April 17, Techcrunch reported that Google — which currently offers Google Pay (similar service to Apple Pay and Samsung Pay) — is alledgedly “developing its own physical and virtual debit cards.”

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