Samsung Launches First US Credit Card with Barclays, Signals Ambitions for Deeper Financial Services Push
The card is designed to build loyalty by rewarding routine spending, and experts say 3% on Samsung Wallet purchases is a competitive rate.
- On Monday, Samsung Electronics and Barclays announced the launch of the Samsung Galaxy Card, a credit card issued on the Visa network that integrates directly into Samsung Wallet. Consumers can apply online at Samsung.com beginning July 22.
- Driven by efforts to make smartphones the primary device for money management, the launch reflects a broader industry trend where technology firms and banks collaborate to deepen ties between digital wallets and financial products.
- The $0 annual fee card offers 5% cash rewards on direct Samsung purchases, 3% on Samsung Wallet transactions, 2% on streaming services, and 1% on everything else. New cardmembers can earn $200 after spending $2,000 within 90 days.
- Samsung now competes directly with Apple Pay, though experts note that distinguishing credit card products in an established market remains challenging. Analysts suggest differentiation through rewards structure and wallet integration will be key.
- Executives describe the partnership as a strategic and long-term effort, with Samsung intending to explore future financial products and capabilities beyond credit cards. This signals Samsung's broader ambition to expand its fintech offerings.
38 Articles
38 Articles
Samsung introduces its own credit card for the first time. The Galaxy Card offers cashback on Samsung purchases, streaming services and other issues – but is only available to customers in the US.
Samsung is about to take an unusual step for a technology manufacturer: launch its own credit card. It's called Galaxy Card, it comes in partnership with Barclays and Visa,...
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Samsung has unveiled a shiny new accessory. The South Korean tech firm has entered the credit card market for the first time, unveiling the Samsung Galaxy Card. Barclays is the bank backing the new credit card, which runs on Visa. Woncheol Chai, EVP and Head of the Digital Wallet Team, said: "For years, users have relied on Samsung products to enhance their daily life, from staying connected with friends to relaxation to productivity. Today, Sam…
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