Samsung Pay Cash is a new feature in the Samsung Pay app
DURBAN - Samsung has launched a new feature called Samsung Pay Cash in the Samsung Pay app.
According to Samsung, the Samsung Pay Cash is an easy way for users to manage their budget and keep their money within Samsung Pay like cash in your wallet.
Like Samsung Pay, Samsung Pay Cash works anywhere Samsung Pay and Mastercard is accepted for contactless payments and magnetic stripe cards, which makes it among the most convenient forms of payment on the market and it’s secure.
Samsung Pay can only be opened by the user and it’s protected by the defense-grade security of Samsung Knox and Mastercard token services, which enables users to store and use their 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.
Ahn added, "Shopping is fun, and Samsung Pay Cash is one way we can help empower people to be knowledgeable about where their money is going".
Spending – and saving – made easy
Shop Where You Want
Unlike a gift card, Samsung Pay Cash can be used anywhere Samsung Pay and Mastercard are accepted – including with e-commerce retailers. When Samsung Pay Cash is used to shop, users earn Samsung Rewards points which can can be redeemed for Samsung products, instant win prizes and more.
Stick to your budget
Users can load a week’s grocery money onto the card and shop worry-free or add money each week for an easy way to manage their 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.
Samsung Pay Cash4 is created in collaboration with Mastercard and Netspend, a leading provider of prepaid cards and consumer payment solutions.”
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