Samsung has announced Samsung Pay Card, a digital debit card for the UK. To do it, the company is partnering with Mastercard and British fintech company Curve, the digital banking platform.
The digital card and app should give users better overview and control of their finances along with the bonus of being able to store multiple bank and loyalty cards on device, akin to Apple’s Wallet app.
Samsung said in a press release that the card and app will launch in the UK “later this year.” It comes after last month's similar announcement for the US market.
The presence of Curve here is interesting. The company’s main product is a card that collects all your payment cards in one card with a companion app to give you an overview of your finances with quick banking options between institutions.
By partnering with Samsung, Curve appears to be selling its IP to companies as a white label product, a canny move and one that makes sense for Samsung given its Pay platform will be looking to compete and differentiate itself from Apple Wallet.
Apple Card, the credit card launched with Goldman Sachs, is only available in the US at this time.
It looks like you’ll have to sign up for a Samsung Pay Card debit card in order to use the new service, but if you do, it’ll provide you an all-in-one banking solution on your phone in collaboration with a fintech whose tech is proven in the market.