Photo: Samsung
Samsung Electronics has partnered with Barclays to launch its first co-branded Samsung Galaxy Card in the United States, expanding the South Korean company's push into financial services, Reuters reported.
Issued on the Visa payment network, the card is fully integrated with Samsung Wallet, allowing users to manage their account, track spending and redeem rewards directly through the app.
According to Samsung, applications will open to all eligible customers on July 22, while selected users have already received early access. The card is available in both a digital format and as a physical metal card.
Rewards and welcome bonus
The Samsung Galaxy Card offers the following cashback rewards:
- 5% on purchases made directly through Samsung;
- 3% on purchases made using Samsung Wallet;
- 2% on eligible streaming subscriptions, including Netflix, Disney+ and Spotify;
- 1% on all other purchases.
New cardholders can also earn a $200 welcome bonus after spending at least $2,000 within the first 90 days of opening the account.
Samsung is also offering a 20% discount on Samsung VIP Advantage membership, along with an additional 5% cashback when purchasing or renewing the subscription.
"Consumers are busy and need a credit card that simplifies their lives while delivering real value. Samsung Galaxy Card does both," said Woncheol Chai, Executive Vice President and Head of the Digital Wallet Team at Samsung's Mobile eXperience division.
Challenging Apple in digital payments
The launch strengthens Samsung's competition with Apple in the U.S. digital payments market, where Apple Pay remains one of the leading platforms.
Technology companies are increasingly integrating financial products into their digital wallets as they seek to make smartphones the primary hub for payments and personal finance management.
Long-term financial partnership
Doug Villone, head of cards and partnerships at Barclays, said the new card was designed for consumers who increasingly manage their finances through mobile devices.
Samsung executives described the partnership with Barclays as a long-term strategic collaboration that could expand to include additional financial products and services.
"We view our relationship with Barclays as strategic and long-term. We intend to explore additional products and opportunities if they provide value for our customers," said Sih Lee, Executive Vice President and Head of Samsung Electronics' North American fintech business.
Lee added that around 70% of U.S. households own at least one Samsung device, while nearly 30% own three or more, providing a strong foundation for expanding Samsung's financial services ecosystem.
The launch is part of Samsung's broader strategy to diversify its business. Last month, Samsung and SK Hynix announced plans to invest $518 billion in building four new semiconductor manufacturing plants in South Korea.
