The tech giant, Samsung has announced the release of a Samsung Pay debit card, which will appear with a cash management account. The cash management account arrives in collaboration with SoFi, a US online personal finance company. The Samsung has stated in a blog post that now, higher than ever before, they think that “people are counting on technology to help them make contactless payments, shop, and manage their finances without leaving the house.”
Samsung Announces the Release of its Pay Debit Card
Samsung Pay has been operating for nearly 5 years now. It was released back in 2015, and at that time, it was the first-ever payment platform that had built-in Magnetic Secure Transmission technology and NFC support which enabled its users to pay with the app almost anywhere in the world that they could use a magnetic credit/debit card.
The company considers that the ‘next step’ now is to initiate an in-house cash management service, finalized with a debit card and an account. The blog also states that the company is designing a “mobile-first money management platform.” Any more details related to the platform and the debit card service have not been shared till now.
But Samsung has told that they are, “excited to share more details in the coming time.” “In the meantime, as we celebrate five years of innovation for Samsung Pay, we are proud of what we have achieved so far and can’t wait to help our users do even more with their money.”
This can be regarded as the perfect step to allow the customers to buy anything much more easily. Along with that, it can also help the small business vendors to order packages at much more ease. This will truly improve the company’s relationship with its sizeable customer base.