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Samsung wants to do more with payments than offer a virtual prepaid card. The company plans to grow Samsung Pay this summer by introducing a new “experience” that includes an “innovative” debit card supported by a cash management account. Details are only slated to arrive in the “coming weeks,” but it’ll have help from the financial startup SoFi.
It’s not a surprising move for Samsung. Apple has offered a credit card since 2019, while Huawei is following suit. Google is believed to be working on a debit card of its own. If Samsung doesn’t offer some kind of payment card, it might miss out if these cards turn out to be successful.
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