Last year, Apple issued its own Apple Card in partnership with Goldman Sachs
Samsung has announced its intention to issue a Samsung Pay debit card this summer. The South Korean giant reports that the card will be launched in partnership with SoFi.
Samsung has confirmed the imminent release of debit cards. The company follows the path of Apple and Huawei
According to the Vice President and CEO of Samsung Pay in North America, the company is developing a “mobile platform for managing money.” However, he does not disclose what features this platform and future debit card can offer. However, the company said it would provide more information about this in the coming weeks.
Development began after Apple launched its own Apple Card credit card in partnership with Goldman Sachs last year. There are reports that Google is also working on its own debit card.
Samsung Pay service was launched in 2015, providing the opportunity for some Galaxy devices to pay through virtually any terminal using Magnetic Secure Transmission (MST) technology. It differs from the NFC technology used by Google Pay and Apple Pay.
Following Apple’s footsteps, Chinese giant Huawei also released its debit card in China last month. It is available in both physical and virtual form. The company said that during the first year it canceled the fee for the first users.