Samsung Electronics has signed a memorandum of understanding with KB Kookmin Card and American Express to launch an IoT (Internet of Things) payment card.
Here are a few key points:
This collaboration aims to provide a location verification service for credit cards based on Samsung's 'SmartThings Find' platform.
SmartThings Find utilizes Bluetooth Low Energy (BLE) technology to locate various Samsung devices, including smartphones, tablets, and wearables.
When applied to a credit card and connected to a Samsung Galaxy smartphone, SmartThings Find offers features such as checking the card's location, notifying when the card and smartphone are separated, and locating the smartphone linked to the card.
This partnership involves Samsung providing the technology for integrating IoT cards with SmartThings Find, while KB Kookmin Card and Amex handle IoT card development, issuance, and payment systems.