Koreans say it will be “innovative”.
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It is evident that the technology companies have set their sights on the banking sector, on the money sector, with initiatives that point out that in the future it would not be strange to see Apple, Google or Amazon flirting with the offer of products that have been up to now exclusive use of banks. Like Apple, which has had its own credit card for a few months and has allowed it to stick its head in the market for these typically bank products.
Or in the most extreme case, there we have Facebook playing at being its own Central Bank of Libra, that virtual currency that put the most established protagonists of the world economy on a war footing. So Samsung has chosen to do something similar to Apple although changing the approach significantly: If Californians have preferred credit, they opt for debit.
They define it as “innovative”
In a Press release of Koreans have announced that will have an “innovative” debit card ready for the summer and that will be integrated into the Samsung Pay platform, which is the one they have been installing on all their devices since 2015 and that “will help users to manage their money”.
In the statement they state that “during the past year, We have been busy developing a mobile money management platform. Our vision is to help consumers better manage their money so they can achieve their dreams and goals. “For that reason,” now more than ever, mobile financial services and money management tools will play an even greater role in our daily life and at the same time they will open new possibilities “.
At the moment there are no more details on how it will work, which entities will it be linked to or the countries it will reach in the time frame set for this year. Samsung merely says that “more details to be shared in the coming weeks, “so we’ll have to wait.
As we said before, there is no doubt that The ban has been opened for the entry into this sector of the main technology companies. Google, for example, also has among its plans to launch a debit card in physical format that we can carry on our mobile phones to pay at any establishment. Now, plans are one thing, and implementation schedules in the many markets where these companies have a presence are another.