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The big news from Samsung Pay for 2020? Debit cards …

2020 will bring a new kind of Samsung Pay experience that feels a bit archaic compared to the current physical plastic cards. Samsung announced a partnership with this week SoFi, so that Samsung Pay users can soon receive debit cards secured by a special cash management account.

Samsung was aware of the details right now, but basically we̵

7;re assuming that’s all you would expect from a debit card combined with a cash account. Will the cards at least have tap-to-pay functions? It would be strange if this wasn’t the case considering that Samsung Pay with the supported MST technology has to pay contactlessly at practically every card terminal. I swear if you have to put the chip of this card in terminals, we don’t make a fuss!

Here are the important things Samsung said, but as you will read, more details will follow.

In 2020, Samsung Pay will expand our service from a rewarding way to shop and pay to a rewarding way to manage money. Last year we developed a mobile first money management platform. Our vision is to help consumers better manage their money so they can achieve their dreams and goals. Mobile financial services and money management tools will play an even bigger role in our daily lives than ever, and at the same time open up new opportunities.

As a first step towards this broader vision, Samsung will partner with SoFi this summer to launch a new Samsung Pay experience with an innovative debit card supported by a cash management account. We look forward to sharing more details in the coming weeks.

We will update you as more details become available.

// Samsung

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