Samsung signs digital payments deal with London fintech

Yahoo Finance UK
The Samsung Pay Card will officially launch in the UK later this year. Photo: Getty
The Samsung Pay Card will officially launch in the UK later this year. Photo: Getty

Samsung (BC94.L) has announced it has signed a new payments deal between Samsung Pay, London fintech Curve, and Mastercard (MA) to launch the Samsung Pay Card.

The new digital payment method, powered by digital banking platform Curve, will enable Samsung users to pay through a new digital wallet on their mobile devices.

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Samsung said the partnership will create a payment solution offering customers “greater flexibility and control when managing their finances” by offering a single view of what they are spending, syncing multiple loyalty and bank cards in one place and also enabling a simple and secure way to pay.

The Samsung Pay Card will officially launch in the UK later this year.

The coronavirus pandemic has accelerated the use of digital payment methods as consumers turned to contactless payments to observe social distancing measures and avoided using cash due to warnings from authorities that cash could transmit COVID-19.

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Shachar Bialick, founder and CEO of Curve said: “Both Samsung and Curve are doing remarkable things in their industries, this new partnership sees two of the most innovative companies in the world collaborate on an exciting product that undoubtedly will raise the bar for Fintech globally.

“We are delighted to be able to offer Curve’s unique benefits to customers of one of the world’s biggest brands and enable customers to access a significantly greater range of banking services leading to a healthier financial life with Samsung Pay.”

Conor Pierce, corporate vice-president of Samsung UK & Ireland said: “We are delighted to announce this new partnership with Curve, coming together to provide a new payment solution for Samsung customers which will be available via Samsung Pay later this year.

“At Samsung, our customers are at the heart of everything we do, which is why we strive to create the best technology, services and solutions.

READ MORE: UK cash usage declining fastest in Europe

“The Samsung Pay Card powered by Curve will allow us to expand our Samsung Pay offering, giving our loyal customers even greater benefits and rewards than ever before.” 

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