Mastercard has partnered Samsung and Netspend, a manager of prepaid and debit card programs, to launch Samsung Pay Cash.
Samsung Pay Cash is powered by a new virtual prepaid Mastercard and secured by Mastercard tokenization service, which lets consumers store and use their cards without exposing their 16-digit card number. It’s the same service that already secures Samsung Pay.
Samsung Pay Cash works wherever Mastercard and Samsung Pay contactless payment, and magnetic stripe cards are accepted in store and increasingly at public transit turnstiles. User can manage budgets, keep money within Samsung Pay and earn rewards along the way.
Samsung Pay Cash can be activated from the Samsung Pay app on all Samsung Pay-eligible mobile phones in the US.
Source: The Paypers