Samsung in Talks with Barclays for US Credit Card

Samsung Electronics is in advanced discussions with British bank Barclays to launch a credit card in the United States, marking the South Korean company's first major push into consumer finance in the American market. The partnership, which would utilize Visa's payment network, aims for a formal announcement before the end of 2025, according to people familiar with the matter.

The proposed card would integrate seamlessly with Samsung's Wallet app, allowing users to earn cashback on purchases that could be redeemed for discounts on Samsung devices or at partner retailers. This setup is designed to foster greater brand loyalty among consumers, encouraging spending within Samsung's ecosystem of smartphones, appliances, and other products. Barclays, seeking to grow its presence in the U.S. credit card sector, would underwrite the card and potentially support additional financial offerings.

Beyond the credit card, Samsung plans to roll out a suite of services, including a high-yield savings account, a digital prepaid account, and buy-now-pay-later options. These would build on Samsung's existing financial tools, which have seen adoption in markets like South Korea, India, and the...