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| Samsung copies the Apple Card by announcing Samsung Money |
Samsung has announced amsung Money, which is a MasterCard debit card integrated into Samsung Pay. Unlike the Apple Card, it is the first credit card launched 14 months ago. Samsung Card requires a fund management account from online personal finance company SoFi.
The Korean giant recently announced that it is producing a real Samsung Pay card for this service. According to the company, these accounts (Samsung Money) are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $ 1.5 million. Six times the amount of the guarantee. For most debit cards, it's usually $ 250,000.
There are no account fees. According to a partnership with SoFi, Samsung Money customers can use 55,000 ATMs at ATM Allpoint for free so that Samsung can pay these fees.
Customers can order the card directly from the application and use it on (Samsung Pay) on their mobile phones, as soon as they are approved before the card arrives, and (Samsung Money) allows users to `` open a private or joint account.
Samsung Rewards Program is also available, so users can earn points with every purchase. When the accumulated points reach 1000 points, they can be exchanged as cash rewards for future purchases from Samsung.
When you deposit funds into a Samsung Money account, the interest fee is higher than usual, and it is worth noting that the real card does not include the card number and expiration date or CVV number, and this information is only available through.
Depending on the company, customers can activate the card with NFC, manage all funds and complete all card transactions without having to call or visit the bank's branch, and join a waiting list to receive a warning when the card is later released in the U.S. . this summer.
"With a click on the Samsung Pay app, users can view their balances, view previous bank statements, search for transactions, report fraudulent purchases, suspend spending, or restart," said the Samsung press release. Freeze or cancel your cards, change your PIN and set up trusted contacts without leaving your home. "