Samsung Electronics America unveils Samsung Money by SoFi

Maria Nikolova

Samsung, SoFi and Mastercard partner to offer a simple and secure way to manage everyday finances.

Samsung Electronics America, Inc., today unveiled Samsung Money by SoFi, a new mobile money management experience that brings a cash management account and accompanying Mastercard debit card to Samsung Pay, in partnership with innovative fintech company SoFi. Samsung Money by SoFi aims to make it easier for people to manage more of their financial life in the Samsung Pay app.

Launching later this summer, Samsung Money by SoFi marks the beginning of a new partnership between Samsung and SoFi, with both companies sharing a vision to make it more convenient for people to take more control of their financial lives.

Now more than ever, people are counting on their technology to help them pay, shop, and manage their finances. At the same time, many people prefer payment methods that can earn interest instead of paying it. Samsung Money by SoFi offers the best of both: no account fees, higher-interest earning, money management experience that combines the convenience of mobile payments and the control of a debit card.

Samsung Money by SoFi puts Galaxy smartphone users in charge of their spending and saving. Users can choose between opening an individual or joint cash management account. Moreover, users enjoy in-network ATM fee reimbursement at more than 55,000 locations in the United States.

Setting up an account in the Samsung Pay app will be fast. The virtual card will appear instantly within Samsung Pay upon approval. And as soon as users receive their physical debit card in the mail, the card is ready to use in a snap, as users just have to open Samsung Pay and activate the card with a tap.

To help people manage their finances from anywhere, Samsung Money by SoFi will put essential financial tools at users’ fingertips. With just a tap in the Samsung Pay app, users can check their balance, review past statements, and search transactions. They can flag suspicious activity, pause or restart spending, freeze or unfreeze their card, change their pin, and assign their trusted contact – all without ever having to leave home or call a representative.

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