Samsung appears to be preparing a major step into American finance, as talks progress toward the release of a co-branded credit card for the US market. Sources close to the matter say the initiative is being developed alongside British banking giant Barclays, and the card will operate on Visa’s network once launched.
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- Samsung is reportedly teaming up with Barclays to launch a Visa-backed credit card in the U.S. by year’s end.
- The Samsung-Barclays partnership could rival Apple’s credit card by blending finance with tech ecosystems.
- The upcoming Samsung card may be part of a larger plan including savings, prepaid, and deferred payment tools.
- Samsung’s U.S. credit card move builds on its earlier fintech ventures in South Korea, the U.K., and India.
- If successful, Samsung’s new credit card could cement its status as a global fintech player beyond hardware.
Samsung appears to be preparing a major step into American finance, as talks progress toward the release of a co-branded credit card for the US market. Sources close to the matter say the initiative is being developed alongside British banking giant Barclays, and the card will operate on Visa’s network once launched.
While discussions are said to be in the final stages, insiders note that the timeline has stretched longer than anticipated, with an official announcement now expected toward the close of the year. Both sides are working to finalise terms that could position the partnership as a serious contender in the growing field of tech-backed financial products.
The move is widely seen as Samsung’s counter to Apple’s push into consumer finance. Apple’s credit card, managed in collaboration with Goldman Sachs, has shown the potential of deep ecosystem integration. However, rumours suggest Goldman Sachs is seeking to exit that arrangement, which could create space for fresh competition.
By collaborating with Barclays, Samsung aims to anchor itself more deeply in users’ financial habits — an effort that goes far beyond hardware sales. The bank, for its part, gains valuable entry into a market it has been seeking to strengthen its presence in, using the weight of Samsung’s massive brand recognition to drive adoption.
Industry sources suggest that the upcoming card is only one piece of a larger plan. Samsung reportedly intends to complement it with digital-first financial tools, including a high-interest savings product, a prepaid spending account, and deferred payment options. Barclays is expected to finance or manage parts of this expanded portfolio.
Samsung’s experience with fintech isn’t new. The company introduced its Pay Card in South Korea on the Mastercard network back in 2020 and later launched a UK version the same year, which was entirely digital. Two years later, Samsung India entered the credit space through a partnership with Axis Bank, offering a similar service tailored to the local market.
If the American project unfolds as expected, Samsung could become one of the few technology companies with an established financial ecosystem spanning multiple continents, reflecting its broader ambition to link everyday payments directly with its consumer technology platforms.