In a blog post yesterday, Samsung announced plans to launch a Samsung Pay debit card this summer. The Verge reports: Samsung will launch the card, which will be backed by a cash management account, in partnership with personal finance company SoFi, Ahn said. Samsung is also developing a "mobile-first money management platform," according to Ahn. His blog doesn't detail what features that money management platform or the upcoming debit card may have, but he does say that Samsung will share more details "in the coming weeks." Samsung joins Apple in offering a branded payment card. Google is reportedly working on its own branded payment card as well, though Google's will apparently be a debit card, like Samsung's. Google will also supposedly offer spending-tracking tools for the card.

Read more of this story at Slashdot.

Samsung Electronics said on August 20 that its Samsung Pay service has surpassed the 10-trillion-won milestone in payment volume within two years since launch. Introduced in August 2015, Samsung Pay exceeded the 1-trillion-won level in August last year. Since that time on, the service volume quadrupled for one year's time. An official with Samsung Electronics said, "The volume of out online transactions has taken off since last year, accounting for 30 percent of the total online transactions....

Samsung Pay is moving from the smartphone and into your hands, as the firm is set to launch a physical card in the US this summer in a bid to take on its rival Apple that rolled out a card in 2019.