Samsung created a debit card, named Samsung Money, which will be part of Samsung Pay. The company indicates that the service will be available in the summer. Samsung Money will be powered by SoFi, and it combines a Mastercard debit card with an account to manage their mine.
Users will be able to tap the card to activate it, from there they can check their balance, flag instances of fraud, freeze accounts, and more. Samsung Rewards will also be distributed based on purchases, and people with over 1,000 points will be able to redeem their points for cash at over 55,000 locations.
Fully integrating a person's bank account with their mobile device could add an element of convenience that could entice consumers.
Image Credit: Samsung