Samsung announced on Tuesday that it has plans to expand Samsung Pay’s services to include both a debit card and a cash management account backing it. Samsung will launch the card, which will be backed by a cash management account, in partnership with personal finance company SoFi, Ahn said.
Samsung is also developing a “mobile-first money management platform,” according to Ahn. His blog doesn’t detail what features that money management platform or the upcoming debit card may have, but he does say that Samsung will share more details “in the coming weeks.”
We don’t know much about Samsung’s upcoming offerings yet not even what the account will be called but Ahn says the company will be sharing further details “in the coming weeks.
Samsung joins Apple in offering a branded payment card. Apple’s is the Apple Card, a credit card issued in partnership with Goldman Sachs and launched in August 2019.
Google is reportedly working on its own branded payment card as well, though Google’s will apparently be a debit card, like Samsung’s. Google will also supposedly offer spending-tracking tools for the card.
