Samsung announced on Tuesday that it has plans to expand Samsung Pay’s services to include both a debit card and a cash management account backing it.
Vice President and GM of Samsung Pay Sang Ahn revealed in a blog post that Samsung is partnering with personal finance company SoFi to launch the new card and account. Both products are expected to arrive in the U.S. this summer, with the “mobile-first money managing platform” that has been in development for the past year.
“Now more than ever, people are counting on technology to help them make contactless payments, shop, and manage their finances without leaving the house,” wrote Ahn.
We don’t know much about Samsung’s upcoming offerings yet — not even what the account will be called — but Ahn says the company will be sharing further details “in the coming weeks.”
Though Apple Pay is still significantly more popular globally, Samsung Pay continues to gain followers. Samsung Pay users are expected to double this year from 2018, with Statista projecting 100 million users in 2020.
Meanwhile, Apple Pay is forecast to hit 227 million users, up from 140 million in 2018, and already launched its own branded credit card last year. Google Play is also expected to reach 100 million users this year and is reportedly testing its own debit card as well.