Samsung announces the launch of its Samsung Pay debit card

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Tech giant Samsung unveiled the next step on its path to innovation with its own debit card connected to Samsung Pay – sometime in summer 2020.

In recent years, many technology companies have joined the personal finance industry. Even Samsung joined the game when it launched Samsung Pay five years ago. However, the company is now focused on taking the next step towards expanding into the financial industry.

Samsung is taking the next step towards personal finance

Samsung recently announced that it will launch its own debit card for Samsung Pay. He stressed that it was more important than ever that technology offered the ability to make contactless payments. (The announcement actually started with these words, indicating the ongoing coronavirus pandemic.)

The announcement noted that Samsung has launched Samsung Pay because it believes that financial management should be easy and accessible for everyone. The company has continued to innovate and improve the application to extend the user experience. Now you can take the next step.

The new debit card is expected to arrive in summer 2020. It may be too early to provide a more accurate date for the company.

The debit card is the result of Samsung’s partnership with SoFi and will broaden the payment experience for Samsung users. The card is secured by a cash management account that users can set up at any time, and the company hopes to offer more details in the coming weeks.

Samsung pay

Money Management Rewards

For the time being, Samsung underlines how proud it has been of its achievements over the past five years. This includes not only the launch of Samsung Pay itself, but also all kinds of accompanying improvements, such as For example, a rewards program that allows users to earn points for every transaction.

In fact, the same rewards will come as a reward for managing money instead of just spending it.

Technology seems to be increasingly linked to finance, which will likely result in the two becoming inextricably linked in the coming years.

Samsung’s background with blockchain and cryptocurrencies

Samsung has been interacting with the blockchain sector for a long time and is strongly committed to developing blockchain technologies, not only as a strategy for brand growth, but also as a question of technological development.

The Samsung legacy has a clear propensity for new technologies and that means that Samsung will of course work with blockchain. In addition to the blockchain, the South Korean company is actively flirting with cryptocurrencies and is starting cryptocurrency integration with its Galaxy 20 model, as reported by BeInCrypto.

The introduction of the debit card payment system could build a bridge between cryptocurrencies and blockchain technology to the real market.



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