Back in 2019, Apple launched the Apple Card which is their own credit card. Now it looks like Samsung wants a piece of the action. Over in South Korea, Samsung has officially launched the Samsung Pay Card in partnership with Mastercard. This is all about helping Samsung Pay users make payments in a more traditional form at places that might not otherwise accept mobile payments.
You may be asking, didn’t Samsung already launch a physical card? Well, back in May earlier this year, it launched Samsung Money by SoFi. Unlike the Pay Card, the Samsung Money card is a debit card, which means that you can only spend whatever money you have in your account.
In the case of the Pay Card, this is a credit card where you will be given a credit limit to spend, just don’t spend beyond your means. For now, the Pay Card is only available in South Korea, but it will likely eventually find its way to more markets, though it could take a while since financial services have to undergo a lot of scrutinies and need to clear various regulatory hurdles. This should be good for the company and it’s many users.
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