Sam Sung Electronics Co., Ltd. has announced a new partnership between Samsung Pay, Curve – a digital banking platform, one of Europe’s leading fintechs – and Mastercard to launch the Samsung Pay Card.
Samsung already has a mobile payment system in the market as Samsung Pay, the equivalent in the South Korean factory to other proposals of its competition such as Google Pay or Apple Pay, to mention the most powerful. It also has Samsung Money, a sort of combination of several banking services, but at the manufacturer it has now gone one step further.
The proposal: a virtual card to encompass all your credit cards. A common sack that lands in association with Curve, a British ‘fintech’.
With the ability to synchronize multiple loyalty and banking cards in one place, the Samsung Pay Card with Curve technology will offer customers a true digital wallet experience, all through the convenience of their mobile device.
One card to fit all
Samsung Pay Card becomes practically a mirror of previous British startup solutions, respecting their essence. This means that the Pay Card does not work as an independent financial product but as a container for all our cards grouped in the same plastic.
Naturally, the Samsung Pay Card will be managed from a dedicated application for the mobile phone, and there we will be able to define, among other things, which of our cards will be the default when it comes to payment. That is, which one will support the charges we make when we pay with the Samsung Pay Card in any commerce, either physical or online. Of course, this default card can be changed at any time to rotate our cards.
But under Samsung Pay Card we can not only group credit or debit cards but also discount and loyalty cards. The idea, quite clear at this point, is that we can use the Pay Card for everything leaving the rest of the cards at home and in safekeeping. The card, by the way, will set foot in Europe at the end of this year 2020, starting with the United Kingdom, home of Curve.
Shachar Bialick, founder and CEO of Curve, said; “Both Samsung and Curve are doing remarkable things in their industries, and this new partnership sees two of the world’s most innovative companies collaborate on an exciting product that will certainly raise the Fintech standard worldwide.”
Author: TyN Magazine