Samsung Pay Will Launch Debit Card in Partnership with SoFi
Samsung Pay was launched in 2015. Even today it remains one of the few options with built-in magnetic secure transmission technology (MST) along with NFC functionality, making it possible to pay practically anywhere you can swipe a card. Samsung Pay offers a rewards program, which has been devalued recently, a Cashback service for online shopping (Samsung Pay Cashback) and even offers that you can use right know during your self isolation.
Now Samsung has announced that more innovations are coming in 2020. 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. More details in the coming weeks. Samsung Pay also introduced a virtual card last year.
Recently, SoFi Money also added offers to its debit card. So we might see something similar with this new Samsung Pay product as well.