Samsung Pay has recently announced that it will be teaming up with SoFi, an online lending platform, to be able to launch a new debit card. The announcement has been made some days after Swipe had unveiled Samsung Pay for Swipe Visa cardholders.
Samsung Pay had been launched in the year 2015 and describes itself as a mobile payment service that is groundbreaking for bringing in a new era of e-commerce and mobile payments. It is a safe and simple digital wallet that works almost anywhere where one can swipe or even tap their card.
Samsung Pay Inc., had also merged with Samsung Electronics to be able to secure the shared goals of delivering the best mobile experience and universal acceptance for the merchants and consumers both.
The partnership between SoFi and Samsung Pay will bring in a new Samsung Pay experience through an innovative debit card supported by a cash managing account. The company is looking forward to sharing further details about the collaboration in the near future.
Samsung Pay had claimed when it had been unveiled first it had been the only mobile payment app that had a built-in MST ( magnetic secure transmission) accompanied by the NFC functionality, which makes it easier to pay anywhere the users intend to swipe a card.
Samsung Pay also spoke about its future and stated that it shall expand its service from a platform that offers rewarding ways to shop as well as pay to being a platform that shall offer rewarding ways to manage money.
The online payment service has been involved in the development of a mobile-first, money management platform. The company has the vision to aid all the customers in managing their money in a better way that could help achieve their goals and dreams. The mobile financial services, as well as the money management tools, shall be playing a bigger role in daily lives while also making new ways for possibilities.
Source Credit- https://www.crowdfundinsider.com/2020/05/161300-samsung-pay-to-join-forces-with-sofi-to-create-new-debit-card/