Samsung Prepares to Launch its First Credit Card

Samsung is about to launch its first credit card. Inspired by the Apple Card and Huawei Card, the South Korean manufacturer is preparing to launch a physical debit card to complement Samsung Pay, its mobile payment service. The card is expected later this summer. Here is the first information available. 

Last year, Apple launched the Apple Card, a credit card compatible with Apple Pay. More recently, Huawei has followed in the footsteps of its rival with the Huawei Card, a credit card designed to integrate the Huawei Pay app. According to information obtained by our colleagues at Engadget, it is now Samsung's turn to get back into the dance.

Samsung Debit Card

Samsung opts for a debit card, unlike Apple and Huawei

In the summer of 2020, Samsung will expand the "experience" offered by Samsung Pay with an "innovative" debit card linked to an account to manage your expenses. Unlike Huawei and Apple, Samsung relies on a debit card rather than credit. Each expense will be debited instantly.

To develop this prepaid card, and the management account that accompanies it, Samsung has partnered with SoFi, a California fintech specializing in student loan refinancing in the USA. The start-up also offers personal or mortgage loans and cryptocurrency trading.

This physical card will be added to the Pay Cash virtual credit card. Launched in 2019 with the support of Mastercard, it allows you to add funds to the card by transferring them from another bank card (debit or credit) or by bank transfer.

Samsung will release more information on the physical bank card in the coming weeks. We'll tell you more about it as soon as possible, and we will update this article accordingly.

You can also Check:
How to Get FREE Virtual Credit Card.
How to Open a US Paypal Account.