Samsung announced plans Thursday to partner with financial firm SoFi to launch a physical debit card product, in the shadow of Apple’s Apple Card launch and Google’s rumored debit card solution,media reported. Sang Ahn, Vice President of Samsung Payments, announced in a blog post that the upcoming debit card would be “innovative” and that it would bring a cash management account to users as it launched.
Little is known about the project except for its partnership with SoFi, but it is expected to be closely integrated with Samsung’s existing payment products.
“Over the past year, we’ve been busy developing a mobile-first money management platform,” Ahn wrote in a blog post. Today, mobile financial services and financial tools will play a bigger role in our daily lives than ever before, opening up new possibilities. More information on debit card solutions will be available in the coming weeks. “