Samsung annouiced Samsung Pay Cash, a new virtual prepaid cash card in the wallet of your Samsung Pay account.
The new virtual Samsung Pay Cash account lets you add money and shop in-store and online – right from the Samsung Pay app. It is a new virtual prepaid cash card in the wallet of your Samsung Pay account.
Like Samsung Pay, Samsung Pay Cash works anywhere Samsung Pay and Mastercard is accepted for contactless payments and magnetic stripe cards. It can only be opened by you and it’s protected by the defense-grade security of Samsung Knox and Mastercard token services, which enables you to store and use your card without exposing the 16-digit card number.
“We envision a future in which people can leave their cash and cards at home, take care of everyday financial matters easily, and earn rewards all along the way,” said Sang W. Ahn, Vice President and Division Head, Content & Services, Samsung Electronics America. “Shopping is fun, and Samsung Pay Cash is one way we can help empower people to be knowledgeable about where their money is going.”
Unlike a gift card, Samsung Pay Cash can be used anywhere Samsung Pay and Mastercard are accepted – including with e-commerce retailers. And when you use Samsung Pay Cash to shop, you earn Samsung Rewards points; points can be redeemed for Samsung products, instant win prizes, and more.
You can load the week’s grocery money onto the card and shop worry-free or add money each week for an easy way to manage your budget. Samsung Pay makes it easy to top up the card from a debit card, credit card, or bank transfer. Funds never expire, and there’s no fee for inactivity.
For a limited time, when you complete your registration for Samsung Pay Cash, Samsung will automatically give you a $5.00 credit in your Samsung Pay Cash account.