Samsung is going to announce its first-ever physical card to compete with Apple’s smart card or Huawei smart card. The Samsung card will be linked with your Samsung Pay service as the company is finally disclosing some more information via a blog post. The name of this service is Samsung Money by SoFi and will be integrated with Samsung Pay.
Samsung Money will allow you to have a physical card from which you can do more or less all works without going to your bank branch in the US. This facility will be started in the US where you can withdraw cash from Allpoint ATMs across the US, this will cost you some interest but at the same time, Samsung will reimburse the fees.
You have to open the Samsung Money account then you can request for the physical card, after arriving you can activate it with NFC. The account created can be private or shared, the choice is on the user. The facility will allow you to manage all your finances going through the service.
According to the reports shared in the forum, users can access the Samsung Rewards program so that you can earn points with each purchase. These points will be collected in your account and when the points sum up to 1000 then the user can redeem these points in the form of cash rewards. Additionally, while saving money in their Samsung Money account users will get higher than usual interest fees.
Samsung has thought through a new possibility and has skipped mentioning the most important CVV number on the back of the card. This will be safe if the user accidentally lost their card anytime. The CVV on the other hand can be accessed via the Samsung Pay app. This is almost a smart card with the features of an ATM card, it may collaborate with MasterCard later on to give access to most of the ATMs in the US.
