Following in Apple’s footsteps, Samsung presented its own mobile-centric economic management experience a few months ago, Samsung Money by SoFi, what Starting today, it becomes available to Samsung Pay users in the United States..
Samsung Money by SoFi has been developed in collaboration with the financial technology solutions company SoFi, and offers a cash management account linked to Samsung Pay, in combination with a Mastercard debit card and rewards program, with which users can obtain discounts when buying other products of the company, including washing machines, televisions, refrigerators, etc.
Competing with traditional financial solutions
In this regard, the company notes that it will take a few more weeks for Samsung Pay users to benefit from the discounts when purchasing other Samsung products through Samsung.com
When the time comes, users will be notified through a banner in the Samsung Money section of the Samsung Pay app that allow them to start benefiting from discounts on their purchases.
As we already know, Samsung Money by SoFi will allow instant activations from the mobile application, immediately offering a virtual debit card, while it begins to wait for a physical debit card to arrive, which stands out because it does not show a number, expiration date or any other information, which users can consult if they need them directly at the Samsung Pay application.
Similarly, this new mobile-centric economic management experience nor be subject to fees or commissions, and from Samsung Pay, users can check the balance, review the status of their accounts and search for a specific transaction. Samsung also notes that users can pause or restart spending, freeze and unfreeze the card itself, change the PIN and assign trusted contact.
Later, there will be the possibility of bringing a balance to Samsung Money by SoFi from other debit cards registered in Samsung Pay.
As you might expect, Samsung Money by SoFi also has security measures in place against unauthorized transactions, and it will even take advantage of the Samsung Knox platform to protect user information.
At the moment there are no references to international releases.
Image Credit: Samsung
