From Christian Kirchner
Did you know … that the introduction of Samsung Pay gives our friends from the Schufa a little extra work, but could make a loan more expensive for users? As can be seen from various debates on social media and in Internet forums (and as the Solarisbank, which is behind Samsung Pay, confirmed on request), the full set-up of the new payment method leads to at least two Schufa entries with a total of up to 9,000 euros overdraft Credit limit.
Specifically, it looks like this: When the account is opened, Solarisbank first automatically checks (first entry!) The customer’s financial situation and then provides the Samsung–Pay-Use a Visa debit card with a credit limit of up to 1,000 euros. The second entry results from an additional credit line of up to 8,000 euros for the so-called “Splitpay” system. This is a procedure that enables the installment of outstanding amounts to be repaid. By the way, customers cannot choose the amounts themselves, the respective amount then depends on creditworthiness and is then granted to solvent customers at EUR 1,000 or EUR 8,000.
Now 1.) properly serviced loans and uncompromised credit lines are of course not yet per se a negative feature and 2.) the steps mentioned are also clearly evident from the registration, provided that you “read everything in peace” and solve 3.) also the virtual Schufa debit cards used by some Geno-Bank with Apple Pay Entries from (look here). However, many users report in forums that their “Schufa score” ultimately deteriorated slightly after entering the corresponding credit lines. That it – as sometimes claimed in Internet forums – even to four Score-relevant Schufa entries come (if you add the condition inquiries themselves and the account opening at the Solarisbank to the above credit lines), a Solaris spokesman nevertheless denies.
All the background to the launch of Samsung Pay on October 28th and everything to do with Solarisbank can be found in our archive:
Deal with Solarisbank! Samsung Pay bypasses established banks
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