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Samsung promises a new and “innovative” payment experience with your virtual card

Samsung lifted the edge of the future of its virtual payment system, Samsung Pay, which after five years in the market is preparing to evolve in what it calls a new and innovative experience in the use of credit cards. The manufacturer, which competes with Apple, Google and Huawei in contactless payment solutions via smartphone, has established a partnership with the financial startup SoFi, in the development of a new technology.

So far, very little has been advanced, and it is promised to become official in the coming weeks. However, the manufacturer explains that the next generation of its technology will expand the service of making purchases and payments, in the same rewarding way through its system of points for transactions, which gave discounts on its partnerships; for a whole context of users' money management.

For a year now, the Korean manufacturer has been working on the new finance management platform for smartphones. The notion is to help consumers better manage their money, so that they can achieve their dreams and goals, he said in the statement, noting that now, more than ever, money management tools make all the difference during the pandemic of COVID-19.

In this sense, the partnership with SoFi will allow it to combine its payment technology with a debit card supported by a cash management account. More information promised in a few weeks.

At the end of last year, the company introduced Samsung Pay Cash, an application feature that makes it easy to manage budgets, keeping the money available, just as if it were in your wallet, only being able to spend the amount there is. Users set the budget and can add funds weekly, for example, by forecasting what they can spend.