Samsung Electronics has launched its first co-branded credit card in the US in partnership with Barclays, marking a significant step in the company’s expansion into financial services and signaling plans to broaden its offerings in the future.
The Samsung Galaxy Card, issued by Barclays and powered by Visa’s payment network, enables users to apply for the card, manage their accounts, track spending, and redeem rewards directly through Samsung Wallet. The card offers 5% cashback on Samsung purchases, along with additional rewards on Samsung Pay transactions and other eligible spending categories.
The launch places Samsung in direct competition with Apple Pay as technology companies and financial institutions continue to strengthen the connection between digital wallets and financial products. The growing trend aims to make smartphones the primary platform for payments and personal finance management.
Doug Villone, Head of Cards and Partnerships at Barclays US Consumer Bank, said the digital card is designed to deliver a more seamless payment experience as more consumers choose to manage their finances through mobile devices instead of physical wallets.
Highlighting Samsung’s market reach, Sih Lee, Executive Vice President and Head of North America Fintech Business at Samsung Electronics, said 70% of US households own at least 1 Samsung device, while nearly 30% own 3 or more Samsung products.
Commenting on the partnership, Lee said, “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 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,” signaling Samsung’s ambitions beyond credit cards.
Barclays also indicated that it sees opportunities to expand the partnership over time. The bank has been growing its US consumer business and, in 2024, acquired the General Motors credit card business to strengthen its presence in the US card market.
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