Just in: Samsung has lately introduced that it might be launching its very personal debit card in partnership with SoFi to additional develop its Samsung Pay service.
The corporate explains that the adoption of Samsung Pay has elevated considerably, and its rewards program particularly has been extremely profitable.
“Samsung Pay was the primary cellular funds platform to launch a rewards program, permitting customers to earn Samsung Rewards points with every transaction, along with the points they earn from their underlying bank cards; the primary mobile payments platform to launch a Cashback service for online shopping (Samsung Pay Cashback); and we cast partnerships with prime monetary establishments to make sure Samsung Pay is accepted nearly wherever,” the corporate says.
The Apple Card
And whereas Samsung claims it was the primary to launch a rewards program, it’s not the primary that brings a payment card linked with the mobile payment service.
Apple has additionally launched the Apple Card final yr, and the corporate can be providing a cashback program for purchasers in the USA.
Samsung hasn’t offered any specifics as to when its debit card might go dwell, nevertheless it says that further data can be shared later this yr in all probability nearer to launch.
“As a primary step to this broader imaginative and prescient, this summer Samsung in partnership with SoFi will introduce a brand new Samsung Pay expertise with an modern debit card backed by a money administration account. We’re excited to share extra particulars within the coming weeks,” Samsung says.
The South Korean firm explains that its function is to “develop our service from being a rewarding approach to store and pay to additionally being a rewarding approach to handle cash.” Samsung says there’s a lot extra to share on this regard, so anticipate extra data later this yr.