Samsung Is Working On A Smart Samsung Pay Debit Card- Will It Take On Apple Card?

Debit Card

We all have witnessed the success of Apple credit card but, Samsung is going to make it difficult for Apple. Yes, Samsung is working on its virtual as well as physical Samsung Pay smart debit cards. These cards will change the overall shopping experience for the consumers. Through this card, the customers will be able to make transactions online as well as offline.

Samsung launched its Samsung Pay service in 2015 in order to change the mobile payment experience and they have successfully made it.

Samsung Pay is probably the only mobile payment platform that offers in-built magnetic secure transmission technology. This technology is also known as MST. Moreover, it is also equipped with NFC functionality. So, it does not matter whether the POS machine in a retail shop is running on old or latest technology. You will be able to pay anywhere with the help of Samsung Pay. Debit Card are extremely popular.

The introduction of Samsung Pay was a block-buster. Now after five years, they are taking this to the next level.

Sang Ahn, Vice President and Gm of Samsung Pay said. “In 2020, Samsung Pay will be expanding our service from being a rewarding way to shop and pay, to also being a rewarding way to manage money. Over the past year we have been busy developing a mobile-first money management platform. Our vision is to help consumers better manage their money so that they can achieve their dreams and goals”.

Well, it is a fact that money management and mobile financial services are playing an impactful role in consumers’ daily lives. It is also opening many new possibilities.

Considering this point, Vice President of Samsung Pay said, “As a first step to this broader vision, this summer Samsung in partnership with SoFi will introduce a new Samsung Pay experience with an innovative debit card backed by a cash management account”.

Well, the South Korean tech giant, Samsung has not yet disclosed much about their new Virtual debit card. But, it will surely bring a new revolution in the sphere of digital transactions.

In addition to this, Google is also working on its virtual as well as physical smart debit cards.

The card will connect to the Google app and it will “let the users easily monitor purchases, check their balance or lock their account”.

Google smart debit card will co-brand with various bank partners such as Stanford Federal Credit Union and CITI.

Private, Non-profits and Government Sectors Teaming Up With Linux Foundation For Enhancing Security And Many More

Linux Foundation

COVID-19 is flattening the curve of everything. But, it cannot stop the growth of technology and The Linux Foundation is the perfect example of this. Yes. It is a non-profit organization that has enabled mass innovation through open source. The company has recently announced that it is going to host ToIP. Otherwise known as Trust over IP Foundation. Which is a kind of independent project enabling trustworthy exchange as well as verification of data between any two individual parties on the internet.

It does not matter whether you are an owner of a merchant processing company or a retail merchant, you must need a robust and common standard through which you can provide your customers or other businesses an ultimate security. Well, the ToIP Foundation is doing the same thing; it will provide such a standard that will provide your businesses as well as people an ultimate confidence. They will believe that data is coming from a trusted source. Moreover, it allows you to connect, innovate and interact at a scale and speed which was not possible in the past.

Sector-specific experts from various leading organizations are developing the ToIP Foundation. If we talk about the founding steering members, they are Accenture, Cloudocracy, BrightHive, CULedger, Continuum Loop, Finicity, IBM Security, Futurewei Technologies, MasterCard, Lumedic, MITRE and many more. Linux Foundation is taking a giant leap in technology.

The contributing members are DIDx, The Human Colossus Foundation, Northern Block, TNO, University of Arkansas, Marist College and many more.

In a complicated enterprise environment that requires Artificial Intelligence, Edge Computing, Internet of Things and many more. It is very difficult for businesses to manage as well as protect data and digital assets.

But, ToIP is indicating opportunities and innovation such as the adoption of new service. Digital identity that can provide an adequate amount of support to humanity.

The ToIP Foundation will use a digital trust to deal with the major issues. Along with it, it will allow businesses, governments and consumers to protect various forms of identity online.

Jim Zemlin, executive director at the Linux Foundation said. “The ToIP Foundation has the promise to provide the digital trust layer that was missing in the original design of the Internet. To trigger a new era of human possibility”. He further said. “The combination of open standards and protocols, pan-industry collaboration and our neutral governance structure will support this new category of digital identity and verifiable data exchange”. Linux Foundation is paving the way for a new tomorrow.