How Samsung’s Payment Card Made it to the U.K.

After teasing the launch of its debit card in the U.S. earlier this year, Samsung announced that its digital debit card, the Samsung Pay Card, is now available in the U.K.

To make the launch possible, Samsung has teamed up with Curve, a fintech that consolidates all of a user’s existing Mastercard and Visa payment cards. The London-based company makes all of a user’s cards contactless and compatible with Samsung Pay.

Users will receive access to Curve features such as peer-to-peer money transfers, instant notifications about spending, competitive foreign exchange rates, 1% cash back on purchases made with a select group of three merchants, and 5% cash back on purchases made at Samsung Pay Card users will also be able to use Curve’s Go Back in Time feature that allows them to switch payments from one card to another for up to 14 days after the purchase was made.

The deal is a win-win for both companies; Samsung will benefit from Curve’s e-money license with the U.K. Financial Conduct Authority, and Curve will gain from an increase in users. Interestingly, however, existing Curve users cannot also apply for a Samsung Pay card. As other sources have pointed out, the reason for this exclusion isn’t entirely clear.

“At Samsung we believe in the power of innovation and, through our partnership with Curve, the Samsung Pay Card brings a series of pioneering features that will change the way that our customers manage their spending, with their Samsung smartphone and smartwatch at the heart of it,” said Conor Pierce, Corporate VP of Samsung U.K. and Ireland. “This is the future of banking and we look forward to continuing this journey with our customers.”

Photo by Kote Puerto on Unsplash

Samsung and SoFi Team Up to Offer Debit Card

Alternative finance solutions provider SoFi and Samsung’s Samsung Pay joined forces this week to launch a debit card.

The two have spent the last year collaborating to make a mobile-first money management platform with its own debit card and cash management account.

The initiative is part of Samsung’s broader Samsung Pay mobile payments platform that the company launched in 2015. Samsung’s mobile payments platform uses built-in magnetic secure transmission technology (MST) and NFC functionality to enable users to make contactless payments.

“Our vision is to help consumers better manage their money so that they can achieve their dreams and goals,” said Sang Ahn, Vice President and GM of Samsung Pay, North America Service Business, Samsung Electronics in a blog post. “Now more than ever, mobile financial services and money management tools will play an even bigger role in our daily lives while also opening up new possibilities.”

Specific details about the card are still pending.

The new debit card offering will provide Samsung with a unique way to compete with Apple’s Apple credit card. Compared to Apple’s credit card, however, Samsung’s debit card product sounds more sticky. That’s because budgeting and cash management features built into the app will encourage users to spend more time in Samsung’s app and will keep the company’s debit card– along with its mobile payments service– top-of-mind for consumers.

Samsung’s announcement also comes shortly after news leaked that Google has its own debit card in the works. The debit card will work in conjunction with the Google Pay app.

Samsung’s timing on the launch is fairly ideal, despite the global economic crisis. The coronavirus has turned consumers’ attention toward their finances. Because of this, many banks are seeing record downloads of and engagement with their mobile banking tools. This shift to digital, combined with the new low-touch economy when it comes to everyday payments, provides an ideal environment to launch a contactless payment option.

Despite these conditions, the challenger banking space is becoming increasingly crowded in the U.S. However, Samsung’s choice to partner with an existing player instead of creating a product from scratch is a favorable one.

Mastercard and Samsung Make Going Digital More Accessible

Mastercard announced a partnership with Samsung’s security platform, Samsung Knox today in a move that will serve to foster digital inclusion across emerging markets.

“This partnership with Mastercard is our way of making that future available to everyone by helping to close the digital divide, especially in emerging economies and countries,” explained KC Choi, executive vice president of Global Mobile B2B at Samsung.

The two will use Mastercard’s Pay on Demand platform which offers consumers device financing via a pay-as-you-go model. Built by Mastercard Labs, Pay on Demand brings together banks, equipment manufacturers, and telcos to solve issues limiting device financing in underserved markets. The program consists of four components:

  • A lending marketplace that aggregates lenders who offer affordable device financing
  • Samsung’s Knox security platform that ensure the safety of consumer data and transactions
  • Tools that help consumers analyze and build their credit history from usage data
  • Virtual card numbers that can be used for everyday transactions and to make payments on a device

“At Mastercard, we see a connected world where opportunity and prosperity are possible for everyone, everywhere,” said Jorn Lambert, executive vice president of Digital Solutions at Mastercard. “The Pay on Demand platform enables us to deliver on that vision and foster financial inclusion, giving consumers an opportunity to participate in digital commerce. By combining Samsung’s device management and security expertise with Mastercard’s innovative technology, we are creating an ecosystem that can deliver measurable, positive impact to the communities we serve.”

Pay On Demand will be launched in the Middle East and Africa in early 2020 and will extend to other geographical locations later this year.

Visa’s Tap to Phone Brings Contactless Payments to mPOS

Photo by Clem Onojeghuo from Pexels

With Visa’s Tap to Phone app arriving pre-installed on the new, enterprise grade smartphone from Samsung, a broad range of merchants will have access to yet another way to accept payments from customers. The solution works with any Android smartphone and enables everyone from microbusiness owners to retail sales professionals to make on-the-spot transactions with customers without relying additional hardware.

Visa’s Tap to Phone technology enables consumers to make payments in seconds by tapping their contactless payment card – or smartphone or smartwatch – against the vendor’s Tap-to-Phone enabled smartphone. And because it is built on an EMV chip transaction, Tap to Phone is able to generate the same dynamic security for transactions as a traditional terminal does, ensuring both parties that the transaction is secure.

Visa notes that its Tap to Phone technology is currently being piloted in more than nine markets, including in Canada, the U.K, Ukraine, Turkey, Costa Rica, and Malaysia. Additional pilots are scheduled for Poland, Australia and a few other countries “over the next several months.”

Samsung has selected its Galaxy XCover Pro enterprise smartphone to be integrated with Visa’s Tap to Phone technology. The company expects the combination to be valuable in a variety of verticals both within and beyond ecommerce, such as logistics and healthcare.

“The Samsung Galaxy XCover Pro is a robust retail POS platform for a true retail digital transformation,” Visa’s Head of Seller Solutions Mary Kay Bowman said. “Its applications for businesses such as healthcare, airlines, and restaurants are a great example of how Visa together with Samsung can democratize access to payment experiences that consumers increasingly expect, no matter where they are.”

Samsung has demonstrated its technology on the Finovate stage, teaming up with Fiserv to provide biometric authentication for the payment giant’s Commercial Center: Security solution at FinovateFall 2018. Visa participated in our developers conference, FinDEVr Silicon Valley in 2014, discussing “The Future of Commerce” and introducing its API-less, Visa Checkout integration solution.

Finovate Alumni News


  • INETCO’s Insight 7 Brings Machine Learning to Fraud Prevention.
  • Nubank’s User Base Soars to 15 Million.
  • Credit Sesame Appoints New Chief People Officer.

Around the web

  • Uwharrie Bank to leverage Fiserv for digital transformation.
  • Klarna to offer buy now, pay later options to Samsung customers.
  • TickSmith’s Marketplace Advanced Insights offers insight into how Nasdaq Basic Canada works in the marketplace.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Mambu Strikes First Deal in Brazil; Twisto Sets Sights on Poland

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Central and Southern Asia

  • Indian financial services marketplace MyMoneyMantra raises $15 million in funding.
  • Razorpay, a payments solutions provider based in India, reports a 40% increase in the number of digital transactions in the country during the second quarter of 2019.
  • Credit Suisse and NASSCOM agree to promote the growth of Indian fintech startups.

Latin America and the Caribbean

  • Mambu forges partnership with its first Brazilian customer, Acesso.
  • MercadoLibre announces plan to allow users of its e-wallet in Mexico to earn interest on funds saved on the app.
  • Bloomberg looks at Goldman Sachs’ Special Situations Group and its pursuit of investment opportunities among Latin American fintechs.


  • China Merchant Bank to deploy regulatory reporting technology from Wolters Kluwer.
  • Philippines Union Bank picks Refinitiv to power its electronic trading business.
  • Samsung partners with a cohort of South Korean banks on a blockchain-based digital identity project.

Sub-Saharan Africa

  • Central Bank of Kenya reaches fintech cooperation agreement with the Monetary Authority of Singapore.
  • Standard Bank leverages mobile teller technology from Infosys Finacle.
  • Kenyan payment solutions provider WAPI Pay pledges to support faster adoption of Wechat Pay and Alipay across Africa.

Central and Eastern Europe

  • Czech Republic’s Twisto announces plans to expand to Poland this fall, with expansion to Romania to follow.
  • Revolut makes Apple Pay available to its customers in Hungary.
  • Austrian insurtech Bsurance and fintech Cashpresso team up to provide automatic buyer protection Cashpresso customers.

Middle East and Northern Africa

  • Nasdaq and Iraq Stock Exchange ink new market technology agreement.
  • Emirates NBD’s Liv leverages gamification to raise money for charity.
  • Abu Dhabi Global Market’s Financial Services Regulatory Authority issues guidelines for robo advisors operating in ADGM.

Top image designed by Freepik

Fiserv and DadeSystems Help Banks Bring Automated A/R to Business Clients

Courtesy of a new partnership between financial services technology solution provider Fiserv and DadeSystems, more banks will be able to access automated account receivables (A/R) technology which they can offer to their commercial clients as either a SaaS or standalone solution.

“Businesses spend too much time manually posting payments to invoices – a process prone to error and costly in terms of time and resources,” VP of Product Management for Fiserv’s Payments Management Solutions division, John Dangoia said. “By offering DadePay AR Automation, we empower financial institutions to further enrich customer relationships by reducing the need for businesses to manually enter payments into their accounts receivable systems.”

Miami, Florida-based DadeSystems leverages machine learning, advanced optical character recognition technology, and its own patented, AI-based algorithms to automate the invoice-to-cash application process. The company’s DadePay AR Automation solution captures both paper and electronic incoming payments automatically, matches them to open invoices and updates the companies’ ERP systems. DadePay also features a mobile AR app and an ePayment portal. Combined, the suite provides faster payment processing with greater efficiency and cash collection, and lower fees.

“Many businesses are demanding new types of electronic payment and data analytics services,” President and CEO of DadeSystems, Bill Zayas, said, “yet their treasury and finance departments are slowed down by manual and outdated processes. Through this relationship with Fiserv, banks can help their business customers overcome these obstacles with technology from a provider they know and trust.”

In its most recent Finovate appearance, Fiserv demonstrated an integration of Samsung SDS biometric authentication and collaboration technology into its Commercial Center: Security solution. The authentication methodology leverages non-duplicative biometric data – fingerprint, voice, and facial scan – to make the user experience more seamless and secure. Real-time video chat, e-signatures, and annotated screen sharing are among the features available via Samsung’s digital collaboration features.

Headquartered in Brookfield, Wisconsin, Fiserv was founded in 1984, and had global revenues of $5.7 billion in 2017. Trading on the NASDAQ under the symbol “FISV,” the firm has a market capitalization of $33 billion.

Finovate Global: Fintech News from Around the World

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Central and Eastern Europe

  • Revolut announces recruitment initiative in Kraków, Poland to hire 100 new workers in a single day employment in its offices in Eastern Europe.
  • Forbes features Tinkoff Bank in look at Russia’s efforts to develop its digital economy.
  • Polish financial group Aforti Holdings to launch non-bank lender for SMEs and startups in Romania.


  • Banks in South Korea to introduce blockchain based identity verification for mobile and online logins. The technology is reportedly built on a private blockchain system developed by Samsung SDS.
  • Daon Partners with Tradelink to Bring Biometrics to Dah Sing Bank.
  • Bank of Thailand is developing and testing blockchain apps in its regulatory sandbox.

Middle East and Northern Africa

  • Financial technology services firm, One Global, discusses plans for expansion into Egyptian market.
  • ADGM Reglab reports record number of fintech applications for its third cohort.
  • Abu Dhabi Securities Exchange turns to Equifax for advice on development of new technologies to improve operational efficiency.


  • TransferTo, Orange Money Botswana, and EcoCash partner to support digital money transfers between Zimbabwe and Botswana.
  • IMF review of South Africa suggests “increased focus on the role fintech …” could access to credit for SMEs and promotion broader financial inclusion.
  • Nigerian startup,, raises $1.1 million to further develop its online savings platform.

Latin America

  • Diario Financiero interviews Ángel Sierra, executive director of La Asociación Fintech Chile, on digital innovation (video in Spanish).
  • TransferWise initiates service in Argentina.
  • PayU goes live in Colombia with its PayU te fía (PayU You Trust) solution that enables borrowers to extend repayment terms (in Spanish).

Top image designed by Freepik

Finovate Alumni News

Around the web

  • Opentech ranked third in the Mastercard’s worldwide Directory of Digital Wallet providers. Come see Opentech’s live demo at FinovateEurope next week.
  • Yoyo named Best Mobile Payment Solution at MPE Awards. Come see Yoyo’s demo at FinovateEurope next week in London.
  • CapitaWorld launches smart loan disintermediation ecosystem for micro, small, and medium (MSM) enterprises.
  • Unison launches 5% down payment program in conjunction with an 80% LTV mortgage.
  • Sberbank adds Google Pay and Samsung Pay services for the customers using its business cards.
  • Railsbank partners with Carta Worldwide.
  • Lendio Franchise Announced in Clemson Region.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Stronger Together: Fintechs, Techs, and FIs Collaborating on CyberSecurity

Image Designed by Freepik

Ready for some good news on the cybersecurity front?

Most of the time cybersecurity appears in the headlines, it is a report of a breach that just occurred or a new threat to guard against in the future. Caught between the hack that caught us unaware and the certainty that it won’t be the last, we can lose sight of the fact that there are hundreds of cybersecurity firms with thousands of security professionals that are working around the clock to make our lives online a lot safer. And many of these companies are Finovate alums specializing in service to the financial industry and its customers.

Ted Ross, founder and CEO of SpyCloud, demonstrating the company’s Best of Show-winning platform at FinovateFall 2017.

Importantly, not only are these companies working 24/7/365 to fight cybercrime, but also many of them are teaming up and partnering with financial institutions, retailers, and each other to test their technologies, make key improvements and enhancements, and ultimately get their fraud-fighting solutions to market.

With that in mind – and in line with our October focus on cybersecurity – here’s a look at the partnerships, agreements, and collaborations forged by our cybersecurity-related alums so far in 2017.



  • Mitek partners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
  • Avoka extends strategic partnership with Mitek for digital identity verification solutions.
  • ThreatMetrix and partner to deliver ID verification for government and commercial digital services.
  • Ledger partners with Intel to boost blockchain app security.
  • BioCatch to power behavioral biometrics for Samsung SDS America. 
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Zighra launches flagship continuous authentication product.
  • Kony to launch digital banking solution leveraging Daon biometrics. 
  • iSignthis to integrate its Paydentity UBO Service with Web Shield’s InvestiGate platform.
  • TASCET teams with Secured2 to launch Algo5 data security offering.


  • Latvian Bank Citadele secures mobile and online banking with VASCO’s DIGIPASS for Apps and CRONTO.
  • National Bank of Canada joins SecureKey’s digital identity network.


  • HooYu to provide ID confirmation for U.K.’s Cars-as-a-Service easyCar Club.

Multiple Best of Show winner EyeVerify demonstrating its Eyeprint ID technology at FinovateEurope 2017 with partner YapiKredi Bank.



  • Vera to provide data security services for GE.
  • BioCatch to power fraud prevention solutions for HoneyTek Systems.


  • DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).
  • Open Banking selects Ping Identity to provide the identity and access management to underpin the U.K.’s open banking framework.


  • Signifyd guarantees fraud protection for Magento Commerce Merchants.
  • Infosys Finacle partners with ToneTag to leverage sound wave technology to drive contactless authentications and transactions.



  • Jumio partners with Plynk to bring instant verification to Europe’s first money messaging app.
  • FIS and Equifax partner to offer new identity verification solution, OnlyID.
  • Biometric Signature ID partners with National Fingerprint to provide virtual ID proofing and verification services.
  • BioCatch partners with LexisNexis to leverage data and analytics for better risk management.


  • Samsung to power biometric authentication pilot for Bank of America.
  • Mexican payment processor chooses fraud fighting technology from Featurespace.


  • HooYu brings identity confirmation technology to BCRemit.



  • ID Analytics partners with Acxiom to strengthen risk assessment and combat fraud.
  • HackerOne Powering bug bounty program for Tor browser.


  • MoneYou integrates Mitek’s identity solutions for real-time digital onboarding.
  • DefenseStorm to serve as cybersecurity partner for Bank of Jackson Hole to enhance security.


  • International Air Transport Association chooses fraud prevention technology from Featurespace.
  • Signifyd brings its Guaranteed Fraud Protection solution to Authorize.Net’s U.S.-based e-commerce merchants.

Behavioral biometric innovator BehavioSec, shown here demonstrating BehavioSec on Demand at FinovateFall 2015, has won three Best of Show awards.



  • Daon adds EyePrint ID to IdentityX platform courtesy of new partnership with EyeVerify.
  • IdentityMind Global to offer’s document authentication technology to its financial services customers.
  • Jumio partners with Monzo for strong identity verification.
  • iovation to integrate its device-based authentication technology with PingFederate from Ping Identity.
  • TSYS partners with Featurespace to deliver real-time decision capabilities.


  • Leumi Card to use Feedzai’s artificial intelligence platform to fight fraud.
  • Ghana-based Premium Bank selects NetGuardians’ anti-fraud solution – FraudGuardian.



  • Cisco and IBM team up on security.
  • BehavioSec partners with Kount.
  • Trulioo partners with Mitek to add facial recognition functionality to its ID verification platform.
  • Daon to integrate IdentityX platform with Experian’s fraud and identity platform, CrossCore.


  • Australia-based forex broker Pepperstone to deploy Paydentity verification services from iSignthis.



  • Fraud prevention innovator Featurespace partners with U.K. digital family banking solution, goHenry.
  • Payment solutions provider Buckaroo chooses AML solution from Fiserv.


  • Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.


  • Braspag announces integration of e-commerce and anti-fraud technology from ACI Worldwide.

A FinDEVr favorite, HackerOne and its bug bounty and vulnerability disclosure platform leverage white hat hackers to find critical security gaps before criminals do.



  • Mastercard adds to authentication arsenal with acquisition of NuData Security.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.


  • Daon brings mobile biometric authentication to UnionBank.
  • Co-op Financial Services to leverage machine learning-based fraud fighting technology from Feedzai.
  • Pindrop to mitigate call center fraud for credit union service organization PSCU.


  • Saltrex to use Jumio’s Netverify Trusted-Identity-as-a-Service.
  • Featurespace to provide machine learning fraud and risk management solution to CashFlows.



  • BioCatch brings continuous online and mobile authentication to Nuance Communications’ Security Suite solution.
  • Icon Solutions joins forces with Featurespace to bring anti-fraud protection to instant payments.


  • Affinity CU becomes “trusted sign-in” partner in SecureKey Concierge.
  • First national private bank of Turkey, Yapi Kredi to deploy Eyeprint ID from EyeVerify for mobile logins.


  • Feedzai and Merchant Risk Council (MRC) team up to leverage AI and machine learning to fight fraud.
  • MoneyGram using Mobile Verify from Mitek to meet AML requirements.



  • Arxan Technologies partners with Cisco as to protect connected medical devices.
  • WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.
  • FICO and Ethoca partner to improve card acceptance rates, fight CNP fraud, and reduce disputes.


  • ACI Worldwide to provide fraud protection for Kuwait’s Shared Electronic Banking Services Company (KNET).
  • NetGuardians brings real-time fraud protection to Nigeria’s Keystone Bank.


Finovate Alumni News


  • Ledger Partners with Intel to Boost Blockchain App Security.
  • BioCatch to Power Behavioral Biometrics for Samsung SDS America.
  • Clinc Teams with Enacomm to Bring AI Chatbots to Small Banks and Credit Unions.
  • Powers Facebook Messenger’s First, Fully-Featured, AI-Powered, Virtual Banking Assistant.

Around the web

  • PayPal launches PayPal for Marketplaces
  • Forbes: Banks Wanted To Sink Kantox— Now They’re Vying For Its Technology
  • Zumigo’s  Zumigo Assure now prevents payment fraud even when card numbers are compromised.
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Finicity launches online platform that allows lenders to order, manage and monitor digital verification reports.
  • DAVO’s Sales Tax App, now available in the Square App Marketplace.
  • D3 Banking partners with P2P payments network, Zelle.
  • Behavioral biometric technology from BioCatch to be integrated into Samsung’s Nexsign platform.
  • Top Image Systems introduces its eFLOW AP solution for SAP.
  • Zafin offers its miRevenue platform as a cloud-based SaaS solution.
  • Scalable Capital provides BlackRock employees with streamlined access to its investment management services.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Samsung to Power Biometric Authentication Pilot for Bank of America

Enterprise mobility and information technology company Samsung will launch a pilot program that enables Bank of America customers to log into their mobile banking app by taking a picture of their eye.

According to a report from American Banker’s Penny Crosman, half of BofA’s customers are using fingerprint authentication to log into their app, a feature the bank began offering in 2015. The other half of users login using their ID and password because they are either traditionalists, or hesitant to try the new login method for fear of a security breach. The pending iris scanning feature is part of a larger effort to gauge user sentiment toward general biometric authentication, including facial scanning and voice recognition. Michelle Moore, head of digital banking at BofA, told American Banker, “One thing we know we need to work on with our customers is, even in today’s day and age of digital natives, there are questions about safety and security.”

A group of 1,500 Samsung and BofA employees, which was hand-picked to emulate BofA’s customer base, will spend six months testing the new authentication technology. The pilot aims to gauge if customers will use the new technology, if they understand it, and if they find it easy-to-use.

Samsung debuted the iris recognition technology in March during its Unpacked event. The company asserts that the technology is more secure than fingerprint scanning. In fact, the CEO of the company powering Samsung’s iris scanning technology, Mark Clifton, said that the iris scanning technology is superior to the FBI’s fingerprinting technology, which offers 130 unique identifiers, compared to the 400 unique identifiers that Samsung’s iris scanning tool uses.

South Korea-based Samsung will demo DeX, Nexsign, a product designed to enhance productivity and security of corporate information for IT decision makers, security officers, and innovation teams at FinovateFall in New York next month. Don’t have your ticket yet? Register today to be a part of the first four-day Finovate event.