Samsung Unveils Barclays-Backed Credit Card in Financial Services Push
What's happening
Samsung has launched its first US credit card, the Samsung Galaxy Card, issued by Barclays US Consumer Bank and running on Visa's network. Applications open Wednesday July 22, and the card will be available in both virtual and physical formats integrated with Samsung's digital wallet. The product offers cash rewards on everyday shopping, with increased points for purchases made from Samsung, and is positioned to drive more spending through Samsung's ecosystem. The move follows Apple's Apple Card and signals Samsung and other Asian tech firms expanding into US payments.
Why it's trending
Because tech platforms are racing to lock more consumer spending into their ecosystems, and Samsung just moved from phones to payments with a Barclays-Visa partnership.
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If you think the Samsung Galaxy Card is about competing with Apple on premium cards, think again, Samsung just bought more control over where you spend, not who gets your loyalty points.
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Original sources6
- Samsung launches first US Credit Card with Barclays and Visa
Samsung has launched its first co-branded credit card in the US, deepening its push into financial services and placing the electronics group in more direct competition with Apple. The Samsung... read more The post Samsung launches first US Credit Card with Barclays and Visa appeared first on Payments Industry Intelligence .
Payments Industry IntelligenceJul 22 - Why Samsung’s card is less about credit and more about control
Asian tech giants are starting to build a presence in US payments, with Samsung and Sony leading the way. Samsung has launched Samsung Galaxy Card, a co‑branded credit card that encourages users to route more of their daily spending through its wallet. Issued by Barclays US Consumer Bank on the Visa network, the credit card […]
Payment ExpertJul 22 - Samsung Unveils Barclays-Backed Credit Card in Financial Services Push
Samsung is seeking to make the next stage of its ecosystem strategy extend beyond smartphones and into the wallet. The company is entering the U.S. credit card market with the Samsung Galaxy Card, a move designed to deepen engagement with its ecosystem and expand its role in consumers’ everyday financial lives. Issued by Barclays U.S. […] The post Samsung Unveils Barclays-Backed Credit Card
PaymentsJournalJul 21
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