Samsung’s rumored US Visa credit card with Barclays: what it means and why it matters

Samsung reportedly readies a US credit card with Barclays and Visa to take on Apple Card

Samsung is preparing a fresh push into consumer finance in the United States, and at the center of that strategy is a new co-branded credit card. According to a report attributed to The Wall Street Journal, the company is in advanced talks with British lender Barclays to issue a Visa-network card for US customers. The move would place Samsung directly in competition with Apple Card, Apple’s Goldman Sachs-issued product that runs on Mastercard.

Why make the leap now? For Samsung, a credit card is more than plastic. It is a gateway into everyday spending data, loyalty loops, and financing for the company’s formidable hardware ecosystem – from Galaxy phones and tablets to wearables and appliances. A card tied tightly to Samsung Wallet and Samsung Pay could bundle perks such as enhanced cash back on Samsung.com purchases, device trade-in bonuses, extended warranties, or 0% installment plans for new Galaxy launches.

Barclays gains something equally valuable: a larger foothold in the US co-brand arena by aligning with one of the world’s biggest electronics makers. Choosing Visa ensures wide merchant acceptance and global reach, reducing friction for cardholders who travel or shop cross-border. Insiders say a formal announcement is targeted by year’s end, though negotiations have taken longer than initially expected – common for complex co-brand partnerships that must align risk, rewards, servicing, and marketing.

The rumored card would sit alongside a broader slate of financial services Samsung is exploring, including a high-yield savings account, a digital prepaid account, and buy-now-pay-later options. Barclays is expected to back at least some of these offerings, creating a multi-product stack that can live inside Samsung’s mobile wallet.

Context matters: Apple Card set a high bar with daily cash rewards, clear statements, and deep iPhone integration. Reports have also suggested Goldman Sachs may seek to unwind its consumer partnership with Apple, underscoring how demanding the co-brand space can be. Samsung and Barclays will need to convince customers with transparent terms, meaningful rewards, and seamless wallet integration to match or exceed Apple’s playbook.

Importantly, Samsung has form here. The company launched Samsung Pay Card in Korea in 2020 on the Mastercard network, introduced a digital-only Pay Card in the UK the same year, and partnered with Axis Bank to debut a Samsung-branded credit card in India in 2022. Those rollouts provide a template – data-rich perks, local issuer expertise, and tight software integration – that could translate well to the US market.

What to watch next: look for clues on rewards categories (Samsung purchases, transit, dining), device financing terms, annual fees, and how deeply the card is woven into Samsung Wallet. If the launch hits the stated timeline, the US credit-card duopoly of tech giants may soon become a head-to-head: Apple’s Mastercard-backed card versus Samsung’s Barclays-issued Visa.