United States – Samsung is reportedly preparing to launch a new credit card in the United States, marking a major step in its expansion into the financial services sector. According to The Wall Street Journal, the South Korean tech giant will partner with British lender Barclays to issue the card, which will operate on the Visa network.
The move is seen as part of Samsung’s broader strategy to rival Apple’s credit card, backed by Goldman Sachs and running on Mastercard. However, reports indicate that Goldman Sachs is planning to exit the Apple partnership, potentially creating a gap that Samsung aims to capitalize on.
Sources familiar with the matter revealed that Samsung and Barclays are in advanced discussions, with a formal announcement expected by the end of the year. The talks have reportedly taken longer than anticipated.
For Samsung, entering the US credit card market aligns with its goal of becoming more integrated into consumers’ everyday spending habits. For Barclays, the collaboration presents an opportunity to expand its footprint in the US financial landscape.
Beyond the credit card, Samsung is said to be developing a suite of financial products, including a high-yield savings account, digital prepaid account, and a buy now, pay later (BNPL) service — with Barclays expected to support at least some of these offerings.
Samsung has already rolled out similar financial solutions in other markets. The Samsung Pay Card launched in South Korea in 2020 on the Mastercard network, followed by a digital-only version in the UK the same year. In India, Samsung partnered with Axis Bank in 2022 to launch co-branded credit cards.
If confirmed, this new US venture would mark Samsung’s most significant financial push yet in a key global market.
