Samsung Electronics has launched its first co-branded credit card in the United States in partnership with Barclays, marking a major step in the companies expansion into the financial services sector and pointing to further offerings in the future.
The Samsung Galaxy Card, issued by Barclays and operating on the Visa network, allows users to apply for the card, manage their accounts, track spending and redeem rewards entirely through Samsung Wallet. It offers 5 percent cash back on Samsung purchases along with additional rewards across other spending categories, including Samsung Pay.
The launch places Samsung in direct competition with Apple Pay, the dominant payment service in the US market. It comes amid a broader race among technology firms and banks to strengthen the link between digital wallets and financial products, as both sectors seek to position smartphones as the primary tool for payments and money management.
Doug Villone, head of cards and partnerships at Barclays US Consumer Bank, said the card was designed to offer a more seamless payments experience for customers who increasingly manage their finances through mobile devices rather than physical wallets.
According to Sih Lee, executive vice president and head of North America Fintech Business at Samsung Electronics, 70 percent of US households own a Samsung device, while nearly 30% own three or more Samsung products.
Lee described the partnership with Barclays as a long-term strategic relationship, adding that while not all details of future collaboration have been finalised, both companies intend to explore additional products and capabilities for customers going forward.
Barclays, which has been expanding its consumer business in the US, echoed this outlook, with Villone stating that the bank continues to look for opportunities to broaden its partnerships and is actively pursuing new collaborations.
The bank has also been growing its card portfolio more broadly. In 2024, it acquired the General Motors credit card business, which enables customers to earn and redeem reward points on GM vehicles, including Buicks, Cadillacs and electric models, further extending the banks presence in the US card market.
