By Oliver Smith on Wednesday 24 June 2020
The first B2B play for the all-your-cards-in-one fintech.
Curve has been revealed as the provider behind Samsung Pay Card, a new all-your-cards-in-one debit card being launched by the smartphone giant.
The card appears to be taking Samsung’s virtual Pay wallet into the real world with a branded debit card (think Apple Card) launching in Europe later this year.
But, because Curve already works with all the cards on Visa and Mastercard, Samsung Pay Card will even work with banks that Samsung doesn’t already have a relationship with.
“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," said Curve CEO and founder Shachar Bialick.
"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.”
For Curve this is essentially a B2B play, a sharp change for the consumer-focused fintech, powering another (far larger) company’s fintech ambitions.
However, the card appears to be co-branded and “Powered by Curve”, but we’ll have to see just how prominent Curve’s branding is in reality when Samsung Pay launches its card later this year.
The partnership was labelled as the “first of its kind” hinting that Curve may be leaving the door open for further partnerships like this.
Samsung Pay Card is also not to be confused with what Samsung is doing in the US, where Samsung Money is a branded current account provided “by SoFi” and without the card-consolidation features.