Samsung is developing an IoT payment card

The smart card can be tracked in case of loss or theft

Image credit: Canva

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.