Samsung Announces 'Innovative' Debit Card Launching this Summer

We're still waiting to hear news about Apple Card's performance relative to the major card issuers, but that hasn't stopped Samsung from announcing plans to launch an "innovative" debit card as part of a new mobile-first money management platform the company has been developing over the last year.

samsung pay
Announced on Thursday in a blog post by Samsung Pay vice-president Sang Ahn, the forthcoming debit card is in partnership with finance company SoFi and will be backed by a cash management account.

"In 2020, Samsung Pay will be expanding our service from being a rewarding way to shop and pay, to also being a rewarding way to manage money," writes Ahn. "Over the past year we have been busy developing a mobile-first money management platform. Our vision 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 bigger role in our daily lives while also opening up new possibilities."

The debit card is scheduled to launch this summer. Other than that, Samsung hasn't offered any details on how it will work, but expect it to integrate with Samsung's existing mobile payment system.

Launched in August 2019, ‌Apple Card‌ is a credit card linked to Apple Pay and built into the Wallet app on iPhone. Apple partnered with Goldman Sachs to launch the card, and in October the investment bank hailed it as "the most successful credit-card launch ever." Nine months later, neither Apple nor Goldman Sachs has offered any concrete details on its performance.

During the global health crisis, Apple has introduced an ‌Apple Card‌ Assistance Program that allows ‌‌Apple Card‌‌ holders to skip their March and April payments without incurring interest charges for that billing cycle. For more details on how the card works, check out our comprehensive Apple Card guide.

Popular Stories

apple watch ultra yellow

What's Next for the Apple Watch Ultra 3 and Apple Watch SE 3

Friday April 25, 2025 2:44 pm PDT by
This week marks the 10th anniversary of the Apple Watch, which launched on April 24, 2015. Yesterday, we recapped features rumored for the Apple Watch Series 11, but since 2015, the Apple Watch has also branched out into the Apple Watch Ultra and the Apple Watch SE, so we thought we'd take a look at what's next for those product lines, too. 2025 Apple Watch Ultra 3 Apple didn't update the...
iPhone 17 Air Pastel Feature

iPhone 17 Air Launching Later This Year With These 16 New Features

Thursday April 24, 2025 8:24 am PDT by
While the so-called "iPhone 17 Air" is not expected to launch until September, there are already plenty of rumors about the ultra-thin device. Overall, the iPhone 17 Air sounds like a mixed bag. While the device is expected to have an impressively thin and light design, rumors indicate it will have some compromises compared to iPhone 17 Pro models, including only a single rear camera, a...
iPhone 17 Pro Blue Feature Tighter Crop

iPhone 17 Pro Launching Later This Year With These 13 New Features

Wednesday April 23, 2025 8:31 am PDT by
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models as of April 2025: Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
iPhone 17 Air Pastel Feature

iPhone 17 Reaches Key Milestone Ahead of Mass Production

Monday April 28, 2025 8:44 am PDT by
Apple has completed Engineering Validation Testing (EVT) for at least one iPhone 17 model, according to a paywalled preview of an upcoming DigiTimes report. iPhone 17 Air mockup based on rumored design The EVT stage involves Apple testing iPhone 17 prototypes to ensure the hardware works as expected. There are still DVT (Design Validation Test) and PVT (Production Validation Test) stages to...
iphone 16 display

iPhone 17's Scratch Resistant Anti-Reflective Display Coating Canceled

Monday April 28, 2025 12:48 pm PDT by
Apple may have canceled the super scratch resistant anti-reflective display coating that it planned to use for the iPhone 17 Pro models, according to a source with reliable information that spoke to MacRumors. Last spring, Weibo leaker Instant Digital suggested Apple was working on a new anti-reflective display layer that was more scratch resistant than the Ceramic Shield. We haven't heard...
Beyond iPhone 13 Better Blue

20th Anniversary iPhone Likely to Be Made in China Due to 'Extraordinarily Complex' Design

Monday April 28, 2025 4:29 am PDT by
Apple will likely manufacture its 20th anniversary iPhone models in China, despite broader efforts to shift production to India, according to Bloomberg's Mark Gurman. In 2027, Apple is planning a "major shake-up" for the iPhone lineup to mark two decades since the original model launched. Gurman's previous reporting indicates the company will introduce a foldable iPhone alongside a "bold"...
top stories 2025 04 26

Top Stories: iPhone 17 Air Rumors, Apple Watch Turns 10, and More

Saturday April 26, 2025 6:00 am PDT by
We've known for quite some time about Apple's plans for a thinner "iPhone 17 Air" coming later this year, but wow, the latest dummy models give us our best look yet at just how thin this phone is going to be. Other Apple news and rumors this week included another iOS 18.5 beta, the 10th anniversary of the Apple Watch launch, and more management reshuffling in Apple's Siri division, so read...

Top Rated Comments

newyorksole Avatar
65 months ago
An innovative debit card huh...

Let me guess the details. There will be an app called “Purse” and it will show you a breakdown of your spending habits/categories and the digital card will change colors based on what you’ve spent. The physical card will also be very plain.

Nailed it.
Score: 22 Votes (Like | Disagree)
hwojtek Avatar
65 months ago
It won't be innovative at all, unless Samsung tops it up every month and doesn't ask for their money back.
Score: 21 Votes (Like | Disagree)
dapa0s Avatar
65 months ago
Innovative ???
Score: 17 Votes (Like | Disagree)
User 6502 Avatar
65 months ago

For all those that mocked Apple for the card...
I only mock the fact that Apple car or even just Apple Cash are still unavailable in Europe.
Score: 6 Votes (Like | Disagree)
chinito77 Avatar
65 months ago
Not a fan of Samsung but am a BIG fan of society moving away from cash. The more we can move away from printed money, the better.
Score: 6 Votes (Like | Disagree)
Rychiar Avatar
65 months ago
why would you want a debit card? having my apple credit card with cash back and the Apple Cash app that can deposit right into my account is perfect.
Score: 5 Votes (Like | Disagree)