Samsung Money is now live in the US for Samsung Pay users. If you have no idea what I’m talking about, that’s probably because a lot has happened since it was first announced back in May. That’s 2020 for ya, folks.
To catch you up, Samsung Money is a digital-first money management platform that has a physical debit card attached to it should you need it. The underlying beauty of Samsung Pay means you shouldn’t need a physical card, though, since the MST technology the payments system is based upon works at virtually any credit card terminal in the world. Nevertheless, there’s a physical card.
The service is backed by SoFi, a banking service that’s been around for a bit in the US. With an account, which is managed via the Samsung Pay app, you simply load up your Money account like a regular bank account, which then earns “up to 6x the average interest rate relative to the national average of transactional accounts.”
When you use that account, customers earn Samsung Rewards points for every purchase they make within Samsung Pay. Furthermore, and very importantly, exclusive discounts on Samsung products on Samsung.com will be available in the coming weeks, which is great timing considering all of the devices Samsung has lined up to release next month.
If you absolutely love Samsung Pay and want to give it even more control over your money, here you go.