Last month we discussed that Samsung is going to come up with a new digital payment solution with some kind of smart card and it will soon be unveiled in the US. Now the company has finally released in under the name Samsung Pay Card“.
“The all-new digital payments solution will offer Samsung customers greater flexibility and control when managing their finances by offering a single view of spend, whilst also enabling a simple and secure way to pay”, the company said in a statement Wednesday.
In a press statement, Conor Pierce, Corporate Vice-President of Samsung UK & Ireland, said the new payment solution will be available via Samsung Pay. “We are delighted to announce this new partnership with Curve, coming together to provide a new payment solution for Samsung customers which will be available via Samsung Pay later this year,” he said.
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.
