Tech News Assistant Editor
Tez Mukamba
Samsung is gearing up for a major push into financial services as it enters advanced talks with Barclays to launch a consumer credit card in the United States, according to reports from The Wall Street Journal.
The move marks the South Korean tech giant’s latest attempt to compete directly with Apple’s expanding ecosystem of financial products, including the Apple Card and Apple Pay.
While Samsung’s tap-to-pay feature enjoys massive popularity in South Korea, the company’s financial offerings in the U.S. have yet to gain significant traction. This partnership could change that.
For Barclays, the collaboration represents a strategic opportunity to grow its American credit card business after losing parts of its partnership with American Airlines. The British bank already manages co-branded cards for companies such as JetBlue and Wyndham Hotels, but has been actively looking to diversify beyond the travel sector.
Sources indicate that Samsung and Barclays aim to officially announce the partnership before the end of 2025, with Visa expected to serve as the card network.
If the deal materializes, the Samsung Credit Card will form the cornerstone of a new suite of Samsung financial products. Internal documents reportedly show the company is also exploring the launch of a high-yield savings account, a digital prepaid account, and a buy-now, pay-later (BNPL) service — further signaling its ambition to compete with Apple and other U.S. fintech players.
The timing of Samsung’s entry comes amid intensifying competition in America’s luxury credit card market. Major issuers like American Express, Chase, and Citi have all recently revamped their high-end cards with richer perks, exclusive travel benefits, and higher annual fees to attract affluent customers.
As Samsung prepares to unveil its financial suite, analysts say the move could significantly expand its ecosystem, blending technology, lifestyle, and finance in ways that deepen user loyalty — and pose a direct challenge to Apple’s dominance in the U.S. digital payment space.
