Samsung Pay debit card to be launched this year

Samsung is set to launch its Samsung Pay debit card backed by a cash management account this year.

Sang Ahn, Vice President and GM of Samsung Pay, said they are expanding their service and over the past year "we have been busy developing a mobile-first money management platform".

"Now more than ever, mobile financial services and money management tools will play an even bigger role in our daily lives while also opening up new possibilities," Ahn said in a blog post on Thursday.

"As a first step to this broader vision, this summer Samsung in partnership with SoFi will introduce a new Samsung Pay experience with an innovative debit card backed by a cash management account. We are excited to share more details in the coming weeks," he added.

( With inputs from ANI )