SEOUL, South Korea—Samsung wants to do more with payments than offer a virtual prepaid card, while separately Western Union has announced discounts for “essential” workers.
The company plans to grow Samsung Pay this summer by introducing a new “experience” that includes an “innovative” debit card supported by a cash management account.
“Details are only slated to arrive in the coming weeks, but it’ll have help from the financial startup SoFi,” Engadget stated.
“It’s not a surprising move for Samsung. Apple has offered a credit card since 2019, while Huawei is following suit. Google is believed to be working on a debit card of its own. If Samsung doesn’t offer some kind of payment card, it might miss out if these cards turn out to be successful,” Engadget said.
Western Union Discount
Meanwhile, Denver-based Western Union is offering a 50% discount for essential workers utilizing its payment services.
Western Union stated in a release that more than 65% of global citizens are working for essential, front-line services, such as medical, police and fire department professionals as well as employees in food, transport and utility fields. That includes 63% in the U.S., 67% in the U.K. and 70% in Germany.
To wire money to family at the discounted fee, those workers can enter the transfer code THANKS2020 until May 20. The discount will apply for the majority of Western Union digital-enabled countries. The payments will be available for bank accounts and wallets in 100 countries, as well as retail agent locations in 200 countries and territories, the company said.
“Many of the world’s frontline or essential workers are global citizens who regularly send money to loved ones back home,” said Western Union President and CEO Hikmet Ersek.