Samsung has signed a memorandum of understanding with South Korea-based KB Kookmin Card and American Express to develop an Internet of Things (IoT) credit card that will enable cardholders to connect their card to a Galaxy smartphone and verify its location using Samsung’s Bluetooth Low Energy-enabled SmartThings Find platform.

Cardholders will also receive notifications when their credit card and phone are separated and be able to locate the phone connected to the IoT card using the same platform.

“SmartThings Find is a location confirmation service using BLE technology that helps you quickly find various types of Samsung devices, including Galaxy smartphones, tablets and wearables,” Samsung explains.

“If you apply SmartThings Find to a credit card and connect it to a Samsung Galaxy smartphone, you can provide functions such as: checking the location of the IoT card at home and abroad; notifying when the smartphone and IoT card become distant; locating the smartphone connected to the IoT card.

“For example, if you accidentally lose your wallet while travelling abroad, you can check the location of the IoT card or the wallet containing the card through the SmartThings Find service on your Galaxy smartphone.”

“Through this collaboration, Samsung Electronics will provide technology for linking IoT cards with SmartThings Find, and KB Kookmin Card and Amex will be responsible for IoT card development, issuance and payment systems,” Samsung says. 

Samsung began letting Galaxy foldable phone users customise their device using NFC earlier this month.

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