May 8th, 2020

It appears that these days, companies are no longer content with just creating online and digital modes of payment. Instead, many of them are looking to adopt more traditional forms of payment, such as credit and/or debit cards, and it looks like Samsung will be the latest to hop on board the bandwagon.

The company has recently announced their plans to eventually launch a Samsung debit card. According to Samsung, this is going to be an evolution of Samsung Pay, where they are hoping to launch a new system that will make it easier for users to manage their money. According to Samsung:

“As a first step to this broader vision, this summer Samsung in partnership with SoFi will introduce a new Samsung Pay experience with an innovative debit card backed by a cash management account. We are excited to share more details in the coming weeks.”

Like we said, Samsung is definitely not the first to the market with such an idea. Apple launched the Apple Card back in 2019, and earlier this year, Huawei also announced their own credit card, and just last month, it was rumored that Google could also be planning something similar.

We guess we shouldn’t be surprised at seeing more tech companies shift towards fintech, although we have to wonder if having too many options will just end up confusing customers. In any case, more details will be revealed in the coming weeks, so check back with us later for the updates.

Source: Samsung

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