Samsung Electronics has launched its first US co-branded credit card with Barclays, deepening the tech giant’s push into the financial services space in the world’s largest economy, while signaling plans to broaden its offerings in the future.
The “Samsung Galaxy Card,” issued by Barclays and running on Visa’s network, will allow users to apply, manage accounts, track spending, and redeem rewards entirely through “Samsung Wallet.”
The new card also comes equipped with 5% cash back on Samsung purchases and additional rewards on Samsung Pay and other spending categories.
Through the credit card launch, Samsung has now positioned itself to direct competition with Apple Pay, which dominates payment services in the United States. In the coming days, expect more technology companies and banks to forge or deepen ties with digital wallets, which will make smartphones the primary device for payments and money management.
Doug Villone, head of cards and partnerships at Barclays US Consumer Bank, said, “The digital card was aimed at creating a more seamless payments experience for customers, who increasingly manage finances through mobile devices rather than physical wallets.”
“Some 70% of US households have a Samsung device, and nearly 30% of American households own three or more of its products,” said Sih Lee, executive vice president, head of North America Fintech Business, Samsung Electronics.
“The relationship that we’re building with Barclays is a strategic and long-term relationship. So while we don’t have everything all lined up today, we do have the intention to collaborate and explore all avenues of different products and different capabilities that we can actually make available, as it makes sense to our customers,” Lee said, while signaling the company’s ambition to go beyond cards.
Barclays, which has been expanding its US consumer business, also indicated it sees opportunities for broader cooperation.
“When we do sign relationships, we naturally look at ways we can expand those over time if it makes sense to consumers,” said Villone, adding that the British bank has been actively sourcing new partnerships.
Barclays, on its own part, has been trying to grow its payment card business. In 2024, it acquired the General Motors credit card business, which now allows customers to earn and redeem reward points on new Buicks, Cadillacs, and other GM cars, including electric vehicles. The deal enabled Barclays to expand its card footprint in the United States, and with the partnership with Samsung, the British financial giant is now looking to consolidate on that gain.