Although Samsung has its own debit card. This is a virtual prepaid card, accepted in all commercial activities belonging to the MasterCard circuit as well as on e-commerce stores, tied to the Samsung Pay service. It’s called Pay Cash and it makes its official debut in these days in the United States for those who are in possession of a compatible smartphone of the Galaxy line.
Samsung Pay Cash for the Galaxy
The initiative is implemented in collaboration with Netspend, a company operating in the debit card sector. To promote its use, the South Korean group provides a series of benefits for payments made: points to spend on the purchase of new devices, sweepstakes with instant winnings, discounts and more. For example, when registering, Samsung credits a $ 5 voucher to the account of the first 20,000 users, which is immediately redeemable.
Obviously the support to the use of the NFC chip and to the MST (Magnetic Secure Transmission) mode to perform contact-less transactions can be guaranteed, relying on Knox technology as an information protection system. The account associated with Samsung Pay Cash can be topped up (with a minimum of $ 10) through any credit card or bank account.
As written at the beginning, the initiative is currently aimed only at the US market, but considering how Samsung Pay has been present for some time even in India we imagine it will debut in the future also in our country as well as in other territories.
Remaining on the subject, in the United States the partnership with Finablr was also introduced to allow users to send money to their contacts in 47 countries worldwide, always through the Samsung Pay account and with a service based on technology developed by Travelex.