Samsung, the world’s largest smartphone maker, plans to launch a debit card of its own in the coming weeks. To do this, the South Korean giant will partner with the online bank SoFi, founded in 2011 and based in San Francisco (United States).

Samsung qualifies this movement as The Next Innovation (The Next Innovation, in Spanish). The objective, as he explains, is evolve Samsung Pay from a mobile payment system to a platform to manage money from the smartphone.

“Our mission 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 greater role in our daily lives. while opening up new possibilities, “said Sang Ahn, vice president and general manager of Samsung Pay in North America.

The Samsung card, which will be debit and not credit, will be accompanied by a checking account. The objective is to launch it on the market in summer, as the company has explained.

Samsung is not the only one interested in this sector

Big tech companies are increasingly interested in providing financial services to private clients. In 2019, Apple launched its own credit card, dubbed the Apple Card, by Goldman Sachs. This credit card places emphasis on three fundamental aspects: privacy, transparency and security. In addition, it offers refunds for purchases made with Apple Pay (3% in selected stores and 2% in all others).

In the coming months, Google will also make its way in this sector, as TechCrunch recently reported. The North American company will do it with a debit card of its own and linked to Google Pay, the most widely used mobile payment platform on Android. US financial entities, such as Citi and Stanford Federal Credit Union, would be involved in its development and launch.

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