Following in Apple's footsteps, Samsung recently announced that it wants to introduce its own debit card. Today, the company has finally shared more information on that enterprise, calling it Samsung Money by SoFi as it's backed by said institution (which notably isn't a bank, as it states itself). The account-fee-free service is slated to launch "later this summer" in the US and will offer higher-than-average interest rates and rewards for saving money.
This story was originally published and last updated .
If you're less than excited to whip out our credit cards or touch a PIN pad at the store, you're not alone: contactless payments are on the rise in America, especially right now. You might have heard about one or both of the major contactless payment providers on Android, Google Pay and Samsung Pay, but you might be familiar with what makes each distinct. While both do offer the same basic tap-to-pay NFC functionality, there are some differences in their ease of use, support for alternate contactless payment standards, and in the apps themselves. Here's how to figure out which one is best for you.
There's a lot to like about mobile NFC payments. They can prevent identity theft by giving stores alias card numbers, they're faster than chip readers, and most importantly right now, you don't have to physically touch the payment terminal. That last bit is probably why contactless payments have jumped 40%, according to financial services company Mastercard.
Samsung Pay is finally getting support for dark mode/theme, based on recent reports. Although it doesn't seem to be rolling out widely just yet, a few folks have spotted the change live on their own devices, which switches the sometimes blinding black-on-white default to a nighttime friendly white-on-almost-black.
Ever since Samsung forsook Wear OS and decided to blaze its own trail with Tizen, the company has been churning out some great smartwatches. The Gear S3 Frontier may be three years old now, but it still remains stylish and performant today as a smart companion for your phone. After fluctuating quite a bit on price lately, it has settled down to $189 at Amazon.
Like most everybody else, Samsung is kicking off the holiday sales a little early with numerous deals on its popular phones, wearables, and other electronic gadgets. The trade-in promotion on the Galaxy S10 and Note10 are especially nice as long as the phone you're trading is relatively new. More Samsung deals are available from Walmart, Costco, and Best Buy.
Samsung has big ambitions when it comes to mobile phone-based payments. After successfully launching the Samsung Pay digital wallet app in 2015 and continually improving it with new features like Samsung Pay Cash and Money Transfer, it now has its sight set on the mobile point of sale (mPOS) market with its new "Samsung Point of Sale" system — or Samsung POS, for short.
In a perfect world, digital wallets would let you leave your wallet at home. The world isn't perfect, but Samsung Pay gets you closer than most with support for your cards in almost all stores. The latest beta version of Samsung Pay adds two additional features, making it even more capable. Samsung Pay Cash is a mobile-only prepaid card, and Money Transfer lets you send money overseas from your phone.