Apple did it. Google is planning to do it. And given how easy-to-use Samsung Pay is, getting its own branded card is the logical next step. According to a CNET report (and now confirmed by Samsung), Samsung is planning to launch a debit card of its own in the United States with SoFi as the partner.
As Samsung Pay completes half-a-decade, the service does not just want to be a “rewarding way to shop and pay” but also be a “rewarding way to manage money”.
The new debit card will be backed by a cash management account and while the rest of the details are still under wraps, SoFi has hinted on a few things that you can expect from the new card. Samsung Pay card users will be able to earn cash back rewards, waiver of ATM fees and more.
Samsung wanting to launch a Samsung Pay branded card is not surprising considering they already have one in its home country, albeit a credit one.