The technology giant Samsung announced this Thursday its plan to launch its own debit card in the coming months, as stated by Sang Ahn responsible for the company’s Samsung Pay division.
The South Korean company has worked for five years with a mobile payment system that allows you to configure an electronic wallet with credit and debit cards of the user’s preference.
Now the company has decided to incorporate its own debit card into its payment system in order to “facilitate everyday life” and allow the user to “make contactless payments, buy and manage their finances without leaving home”.
The Samsung Pay card would be backed by a cash management account, in association with the personal finance company SoFi. In addition, the company is also developing a mobile money management platform.
The news from Samsung joins the one made by Huawei a few weeks ago announcing its Huawei Card and the rumors of a debit card from Google, all of these will enter the market to compete with the existing Apple Card.
