[Alpha Biz= Paul Lee] SEOUL / NEW YORK, November 7, 2025 — The Wall Street Journal reported on Thursday that Samsung Electronics is in negotiations with Barclays Bank to launch a Samsung-branded credit card in the United States, as part of the company’s broader push into digital financial services.
According to internal documents obtained by WSJ, Samsung is exploring not only a co-branded credit card but also high-yield savings accounts, digital prepaid accounts, and buy-now-pay-later (BNPL) services. If finalized, the credit card would be issued by Barclays US, using Visa’s payment network, and offer users cashback rewards under a program tentatively called “Samsung Cash.”
For example, a portion of spending made with the Samsung card would be refunded as Samsung Cash, which could then be deposited into a Samsung high-interest savings account — effectively integrating payment, rewards, and deposits within the Samsung Wallet ecosystem.
Industry analysts say the partnership aligns with both companies’ strategic goals — Samsung’s effort to expand its financial technology footprint and Barclays’ ambition to grow its U.S. consumer business.
Samsung declined to comment on the report, saying only that “nothing can be confirmed at this stage.”
Samsung Wallet, originally launched in 2015 as Samsung Pay, has grown to over 18.6 million users in South Korea but has struggled to gain traction in the U.S. market.
By contrast, Apple’s Apple Card, launched in 2019 with Goldman Sachs and Mastercard, has played a major role in the expansion of Apple Pay, offering 1–3% daily cashback and no annual or late fees, becoming one of the most popular fintech products in the U.S.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
