Samsung Electronics rolled out its first U.S. co-branded credit card on Monday, joining forces with Barclays in a move that signals the tech giant’s growing ambitions in the American financial services market.
The new Samsung Galaxy Card, issued by Barclays and powered by Visa’s payment network, gives cardholders the ability to apply for the card, manage their accounts, monitor spending, and cash in rewards — all from within Samsung Wallet. Cardholders can earn 5% cash back on Samsung purchases, along with additional rewards through Samsung Pay and other spending categories.
The card’s debut puts Samsung in head-to-head competition with Apple Pay, which currently leads the U.S. digital payments space. The launch is part of a broader trend of technology companies and banks working to link digital wallets with financial products, with the goal of turning smartphones into the go-to tool for everyday payments and money management.
Doug Villone, head of cards and partnerships at Barclays US Consumer Bank, said the digital card was designed to give customers a smoother payment experience, noting that more people are handling their finances through mobile devices instead of traditional physical wallets.
Sih Lee, executive vice president and head of North America Fintech Business at Samsung Electronics, pointed to the company’s wide reach in American homes, noting that 70% of U.S. households own at least one Samsung device and nearly 30% own three or more.
Lee described the partnership with Barclays as one built for the long haul. “The relationship that we’re building with Barclays is a strategic and long-term relationship,” he said. “So while we don’t have everything all lined up today, we do have intention to collaborate and explore all avenues of different products and different capabilities that we can actually make available as it makes sense to our customers,” he added, hinting that the company’s plans extend well beyond credit cards.
Barclays, which has been steadily growing its U.S. consumer banking operations, also suggested it sees room for the relationship to expand. “When we do sign relationships, we naturally look at ways we can expand those over time if it makes sense to consumers,” Villone said, noting that the bank has been actively seeking new partnerships.
Barclays has been working to grow its card portfolio in recent years. In 2024, it acquired the General Motors credit card business, which lets customers earn and redeem reward points toward new Buicks, Cadillacs, and other GM vehicles, including electric cars — a deal that helped the bank extend its card presence across the U.S.
