Samsung debit card details announced, coming to the US this summer

Samsung had recently announced that the company has been working on a physical card to go with Samsung Pay, much like Apple Pay and its associated card. Now, they have revealed some more information about the service via a blog post.

The new service, that’s coming to the US later this summer, is called Samsung Money by SoFi and is integrated into the existing Samsung Pay.

The Samsung Money card will let users open private or shared accounts and once they have the physical debit card, that can be activated with NFC. Once activated, that can be used to manage all finances etc - pretty much everything you need to do with a debit card/banking service without having to call or visit the bank.

Also Read: Samsung Pay debit card with cash management account coming this year

You can also use the card to withdraw money from Allpoint ATMs across the US, however, that will cost you a small fee. Samsung will be reimbursing the fee though.

With the card, you also get access to the Samsung Rewards program so you earn points with every purchase you make with the card. Once you hit a 1,000 points you can redeem them for cash rewards. Also, saving money in your Samsung Money account earns you more interest fees.

A very interesting feature of the card is that it does not have its number of CVV on it and that information is only accessible through the Samsung Pay app - major points for security here.

The service has not launched yet so if you are in the US you can join the wait list. You will be notified when it launches. If you are interested, you can check out all details of Samsung Money here.