Samsung Pay revealed plans to expand the scope of its mobile payments platform into more advanced services, a move including the launch of a debit card alongside a US financial industry partner.
In a blog post, Samsung Pay VP and general manager for its North American division Sang Ahn said it had developed a mobile-first money management platform, which would “open new possibilities” for the service.
The upgraded platform will be accompanied by the launch of a debit card in partnership with US digital financial services company Sofi. The card is expected to be available in the coming months.
Other details of upgraded Samsung Pay features were not disclosed, nor which markets the service would be available in.
However card partner Sofi only has operations in the US, making it unlikely this element will be immediately rolled-out across the payment service’s footprint without further companies being brought onboard.
Samsung Pay operates in more than 20 markets primarily supplying contactless mobile payments processed through credit and debit accounts provided by third parties.
In 2019 rival Apple launched a branded credit card [1] into the US market to run alongside mobile wallet Apple Pay, while Google is also rumoured to be developing a similar service for its payments platform.
[1] https://www.mobileworldlive.com/money/news-money/apple-launches-credit-card-with-iphone-integration/
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