Apple started the trend, and we recently learned that Google was also going to launch a payment card backed by an app.
Now Samsung, who is never one to miss a trend, has announced their own plans to launch a payment card.
Unlike the others, however, they plan to launch a debit card, with a bank account backed by SoFi, an American finance company.
In 2020, Samsung Pay will be expanding our service from being a rewarding way to shop and pay, to also being a rewarding way to manage money. Over the past year we have been busy developing a mobile-first money management platform. Our vision is to help consumers better manage their money so that they can achieve their dreams and goals. Now more than ever, mobile financial services and money management tools will play an even bigger role in our daily lives while also opening up new possibilities.
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.
Samsung says they plan to share more details in the coming weeks.