A few months ago, Samsung announced its own debit card. Samsung Money branded debit card is a straight-up challenge to the Apple Card. At first, it sounds very strange that the companies that are supposed just to manufacture and deliver cutting-edge, futuristic smartphones, are now giving off their own debit cards. Samsung debit card is coming in the US and offers quite a few perks for its users.
Samsung Money (debit card) will be integrated with your Samsung Pay account and your Galaxy smartphone. The technology is made with the help of SoFi, the cash management account. You can manage your account from the website but require a compatible Samsung device to access your account remotely. Once you have signed up for Money, you will gain access to a digital debit card on your phone while your physical debit card will be on its way in the mail.
Although it all sounds a bit bizarre, you never know; it may be the next big thing as far as tech companies are concerned about managing the finances. Samsung promises that by using Samsung Money, users will be able to make insured deposits, competitive interest rates, with minimal account maintenance and a withdrawal fee.
As an early-bird offer, Samsung is offering $1000 to a lucky draw winner. You can enter the lucky draw when you fund your Samsung Money account. The transactions you make while using Samsung Pay will earn you some reward points, which Samsung hasn’t mentioned how many you will get. There will also be a loyalty program for loyal Money users. They will get exclusive offers, benefits and discounts on top of any existing offer.
With the release of the Samsung Money debit card, the company has solidified its ecosystem to sustain the people who are already heavily invested and attract new customers.