Samsung announced a new way to earn and pay in Samsung Wallet using a new “Cash Card.”
Not to be confused with the Galaxy Card credit card Samsung announced earlier this year, Cash Card is a new virtual account that reflects earned cash back through select purchases. Samsung says it’s partnering with Rakuten to let users find deals both online and in-store using a “Nearby” feature in Samsung Wallet on any Galaxy phone.
Since the app ties into Raktuen’s network, that catalog of deals is constantly updated and available to Samsung Wallet users. Samsung says that it includes over 3,500 brands and more than 25,000 in-store and dining options. New users will reportedly earn 10% cash back, with rates fluctuating throughout the year.
Anything earned gets added to the Samsung Cash Card, which appears in Samsung Wallet as another virtual card. Whatever balance you have can be used online or in-store. Users will be able to send money to and from other Samsung Wallet accounts. The press release says even tapping another Galaxy or Android device will initiate an instant transfer, with some safety guardrails, of course.
The Cash Card is simply another payment method for Galaxy users with Samsung’s branding on it. While it’s entirely unrelated, it’s interesting to hear of another card launch within the same few months as the Galaxy Card, which is Samsung’s new Visa credit card
It’s also not the first cash back program for Samsung Wallet. One was added in 2018, though this new release seems to be a revamp with new partners.
The virtual Samsung Cash Card and new Rakuten deals are rolling out now in the US.
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