(Pocket-lint) - Samsung has announced that it will launch the Samsung Pay debit card this summer in partnership with personal finance company SoFi.
Keep in mind Samsung launched its mobile wallet and payments app, Samsung Pay, in 2015, and this debit card is just an extension of that platform. In a blog post, Sang Ahn, vice president and general manager of Samsung Pay in North America, said Samsung will launch the card backed by a cash management account, and that the company plans to share more details in the coming weeks.
Samsung is also developing a “mobile-first money management platform". The blog doesn’t discuss what features the upcoming debit card will have, let alone anything about the money management platform, but it's clear Samsung just wants to launch its own branded card similar to Apple Card, which Apple offers with Goldman Sachs. It launched in 2019 as both a physical and digital card.
You can use Apple Card via Apple Pay on your iPhone and Apple Watch, and you can track it on your Apple Card inside the Wallet app. We're suspecting Samsung's card will be for Samsung devices, but we'll let you know when we do.
For more about Samsung Pay and how it works, see our guide.