South Korean tech giant Samsung appears to be opening a new flank in its battle against Apple by planning to introduce its own debit card. Samsung partners with US digital lender SoFi to launch a Samsung Pay debit card backed by a cash management account. Although few details have emerged on the card, we do know that it will be compatible with a smartphone-based cash management account. It is now unclear in which countries Samsung debit cards will be launched. < p lang="en" dir="ltr">Samsung Pay debit card to launch this summer in partnership with SoFi https://t.co/DX7D1GPNYyMay 7, 2020 Samsung Pay, its namesake payment service, is initially released in South Korea in August 2015 before launching in the United States a few weeks later. In a blog to mark five years of Samsung Pay, Sang Ahn, general manager of Samsung Pay in North America, said that the new debit card will launch this summer. Samsung Pay is also expected to launch a "first mobile money management platform." "In 2020, Samsung Pay will expand our service, which will be a rewarding way to shop and pay, but also a rewarding way to manage money. Over the past year, we have been busy developing a mobile-first money management platform. Now more than Never before will mobile financial services and money management tools play an even bigger role in our daily lives while opening up new possibilities," Ahn said. Samsung introduced its payment tool in 2015 with MST (Secure Magnetic Transmission) technology, as well as Near Field Communication (NFC), a newer technology. NFC works with digital wallets and enables contactless payments. But in some emerging economies, NFC is not supported, which makes MST important. Samsung Pay has grown in popularity, processing more than 2018 billion transactions, almost double compared to 2019. At the beginning of 2019, Samsung Pay's international presence expanded to six regions of the world. At the end of XNUMX, it was extended to several new countries. Contactless mobile payments are growing all over the world. The growth is driven in part by more retailers getting involved. And it is clear that Samsung with its payment card is head on with Apple, which launched its credit card last year. Google would also work on your own debit card. Big tech also looks financially ready for a battle royale.