Back in 2019, Apple launched the Apple Card which is a credit card. Now it looks like Samsung wants in on the action too because over in South Korea, Samsung has officially launched the Samsung Pay Card in partnership with Mastercard. This is aimed at helping Samsung Pay users make payment in a more traditional form at places that might not otherwise accept mobile payments.
But wait, didn’t Samsung already launch a physical card? Yes and no. Back in May earlier this year, Samsung launched Samsung Money by SoFi. Unlike the Samsung Pay Card, the Samsung Money card is a debit card, which essentially means that you can only spend whatever money you have in your account linked to your card.
In the case of the Samsung Pay Card, this is a credit card in which you will be given a credit limit to spend, although as most financial advisors would advise, you should definitely not spend beyond your means. For now, the Samsung Pay Card is only available in South Korea, but we imagine that it should eventually find its way to more markets, but it could take a while given that financial services tend to undergo a lot of scrutiny and need to clear various regulatory hurdles.