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Fintech & Ecommerce

Samsung introduces its first debit card

May 28, 2020

The card will not display the card number, expiration date, or CVC

Samsung Money by SoFi

Samsung introduces its first debit card. Source: news.samsung.com

Samsung rolls out Samsung Money by SoFi, a debit card program that charges no account fees and offers higher-interest earning.

The virtual card will be issued instantly within Samsung Pay upon approval. As soon as users receive their physical debit card in the mail, they will only need to activate it in the app.

Samsung’s goal is to make everyday life better by putting powerful tools in the hands of Galaxy users. Samsung Money by SoFi is our biggest move yet to help users do more with their money. Samsung Pay is already the most rewarding shopping and payments experience driven by numerous innovations over the years. Now, users can access mobile-first financial services and earn exclusive Samsung benefits. We’re excited to help our users reach their financial dreams by allowing them to spend, save and grow their money and access it easily and securely
Sang Ahn, Vice President and GM of Samsung Pay, North America Service Business, Samsung Electronics

Besides, within the Samsung Pay app, users can check their balance, review past statements, and search transactions. They can also flag suspicious activity, pause or restart spending, and freeze or unfreeze their card.

What is more, users can enroll in the Samsung Rewards program to earn points for every purchase they make with Samsung Pay.? In addition, users with 1,000 or more Samsung Rewards Points will be able to redeem their points for cash that will be deposited directly into their Samsung Money by SoFi account.

We’ve reported that Samsung Pay?has confirmed?its partnership with Axiata, a Malaysian telecommunications company, by integrating with Boost e-wallet.

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