Samsung Launches Apple Card Competitor Starting in the UK

[MacRumors]

Samsung's answer to Apple Card, Samsung Pay Card, has launched in the UK.

Samsung has paired with Mastercard and fintech company "Curve" to power the new service. Curve allows users to link existing cards together and then decide which accounts should be used for different purchases. For reasons that are not entirely clear, existing Curve customers are ineligible to apply for Samsung Pay Card.

Curve offers some unique features, such as the ability to "go back in time" on purchases. For example, if you buy something on your credit card, and later decide that the purchase should have been made on a different card, you have up to 90 days to switch the purchase.

"Now, more than ever, people need a secure payment solution they can rely on. We're excited to be able to put the control back into our customers' hands, by launching Samsung Pay Card," said Conor Pierce, Corporate Vice-President of Samsung UK and Ireland. "At Samsung we believe in the power of innovation and, through our partnership with Curve, the Samsung Pay Card brings a series of pioneering features that will change the way that our customers manage their spending, with their Samsung smartphone and smartwatch at the heart of it. This is the future of banking and we look forward to continuing this journey with our customers."

Samsung Pay Card offers five percent cashback on purchases from Samsung, and one percent cashback at other retailers. It also offers instant spend notifications and currency conversion at market rates when traveling abroad, which Samsung claims will be cheaper than the currency conversion fees at many high street banks.

Payments are protected by "Samsung Knox" security, a "multi-layered defense-grade" security solution. In the event of a smartphone loss, access to Samsung Pay Card can be instantly locked using another device from the Samsung ecosystem.

Although Samsung Pay Card cashback rates are lower than that of Apple Card, it is important to understand that the UK credit market generally has much lower rates of cashback than the U.S. due to lower merchant fees. A one percent cashback rate could be considered quite competitive within the UK. For comparison, the American Express Platinum Cashback card offers only 0.5 percent; one of the highest cashback rates in the country.

Unlike Apple Card, Samsung Pay Card does not offer a physical card. It is a purely digital service available via NFC on Samsung smartphones and smartwatches. Although contactless payments in the UK are usually capped at £45, a spokesperson for Curve said that there is no spending limit on Samsung Card Pay.

Samsung Pay Card is currently only available in the UK, but a rollout elsewhere is likely at a later date. Apple Card has not yet launched outside of the U.S., meaning that Samsung has a captive market in the UK.

Article Link: Samsung Launches Apple Card Competitor Starting in the UK

 

[ButteryScrollin]

lol 1% cash back? wow

 

[fokmik]

Very beautiful

 

[appleguy123]

lol 1% cash back? wow

That's really good for a card in the UK. I think about .25-.5% is the going rate for a no annual fee card.

 

[Apple Knowledge Navigator]

Smallprint reads:

In effect of reaching your overdraft limit or use in any Apple Store, Samsung Card will spontaneously combust.

 

[TheYayAreaLiving 🎗️]

LOL Samsung is always trying to be like Apple. Give it up Samsung. Stop copying Apple.

 

[ThaGoochiestMane]

The real question is which one of these companies will be the first to release [Apple/Samsung] Paycheck.

"Give us your money and [Siri/Bixby] will tell you if you're spending it wisely!"

 

[Kebabselector]

lol 1% cash back? wow

'it is important to understand that the UK credit market generally has much lower rates of cashback than the U.S. due to lower merchant fees.'

 

[paulypants]

Samsung's product strategy: Just make whatever Apple makes.

Can't wait for Samsung Original Films.

 

[Wildkraut]

Keep going, we always need alternatives for a healthy consumer market.

 

[scottfm]

Great news if this means Apple might want to release the Apple Card in the UK sooner to compete.

 

[nylonsteel]

aapl is samsung r and d department

 

[4jasontv]

I am a little unclear. Can I use multiple cards for one transaction? The way the article is phrased it sounds like a can divide up a purchase between cards. That would be really cool. Like a business trip where food is paid by the company but drinks are paid by employees.

 

[Wildkraut]

Samsung's product strategy: Just make whatever Apple makes.

Can't wait for Samsung Original Films.

Sorry, but Samsung had NFC in their phones long before Apple.
I always prefer not to use these man-in-the-middle payment methods, that way more money stays with sellers, but sometimes they are handy.

 

[Red Oak]

What ever happened to Bigsby, Milk Music, Samsung App Store?

All dead. Samsung truly can’t do software or services

 

[lotzosushi]

🐵 see, 🐵 do.

 

[iBluetooth]

Sorry, but Samsung had NFC in their phones long before Apple.
I always prefer not to use these man-in-the-middle payment methods, that way more money stays with sellers, but sometimes they are handy.

It's not who put the feature in first - It's how they are used that matters. You can have a phone that ticks off all feature boxes and still have bad experience.

 

[Wildkraut]

I am a little unclear. Can I use multiple cards for one transaction? The way the article is phrased it sounds like a can divide up a purchase between cards. That would be really cool. Like a business trip where food is paid by the company but drinks are paid by employees.

Well I dunno, but I think they considered the classic US market, where a newer credit card covers the maxed out one.
The typical sheep desperately trying to buy the next iDevice at BestBuy:

 

[iBluetooth]

What ever happened to Bigsby, Milk Music, Samsung App Store?

All dead. Samsung truly can’t do software or services

A fun fact is that Samsung has more software programmers than Apple and Google combined

 

[aid]

FYI: Although it can vary by store; in the UK only unauthenticated contactless payments (i.e. by tapping a credit or debit card) are capped to £45. Authenticated contactless payments - for example with Apple Pay (using an iPhone) - do not have this limitation.

 

[4jasontv]

A fun fact is that Samsung has more software programmers than Apple and Google combined

Isn't Apple always dealing with having to borrow programmers from different departments to meet deadlines. I swear we see reports of Pro apps being delayed because that staff was put on fixing iOS or something.

 

[AZREOSpecialist]

The last time Samsung had a creative, innovative thought was in 1992.

 

[Zeroshiftfactor]

Hope this puts competitive pressure to make the Apple Card better.

 

[xDENTALPLANx]

Great news if this means Apple might want to release the Apple Card in the UK sooner to compete.

I check Mac Rumors regularly to see if there's any speculation about Apple Card launching in the UK, but I haven't read anything about it in ages. I wonder what the hold up is?

 

[DinkThifferent]

Wow a Samsung credit card, that’s so cool and original!