Digital Payments

Samsung To Roll Out Pay Card For Digital Wallet With Mastercard, Curve

Samsung

Samsung Electronics Co. plans to offer a Samsung Pay Card that will give customers “a simple and flexible way to control their money,” the company said in a Wednesday (June 24) press release. For the launch, Samsung is linking up with Mastercard and FinTech Curve.

“With the ability to sync multiple loyalty and bank cards in one place, the Samsung Pay Card powered by Curve, will offer customers a true digital wallet experience, all through the convenience of their mobile device,” the electronics company said in its announcement. Noting the partnership with Curve “is the first of its kind in Europe for Samsung Pay,” the firm said the Samsung Pay Card will launch in the U.K. later this year.

“We are delighted to announce this new partnership with Curve, coming together to provide a new payment solution for Samsung customers,” said Conor Pierce, corporate vice president of Samsung U.K. and Ireland.

Curve Founder and CEO Shachar Bialick said the new partnership will offer “an exciting product that undoubtedly will raise the bar for FinTech globally.”

Curve said its FinTech platform consolidates multiple cards and accounts into one smart card and one app. The company’s card offers rewards, such as 1 percent cash back at companies such as of Amazon, Uber, Netflix and Sainsbury’s.

Samsung Pay Card, Powered by Curve

Samsung Pay announced in May that it was launching a physical debit card and planned to roll out other products over the summer.

“Now more than ever, people are counting on technology to help them make contactless payments, shop, and manage their finances without leaving the house,” Sang Ahn, vice president and general manager of Samsung Pay’s North America service business, said at the time.

Earlier this year, Mastercard teamed up with Samsung to bring digital technology to emerging markets.

With Mastercard’s Pay on Demand platform, people in emerging markets get improved access to financial services and other offerings, the company said. The platform links banks, original equipment producers and telcos, enabling people to access devices in a pay-as-you-go model, the company said.

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The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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