Samsung Launches First Credit Card 'Samsung Galaxy Card' in U.S., Challenging Apple

Samsung Electronics announced on July 20 (local time) that it is launching a customized credit card, the 'Samsung Galaxy Card,' in partnership with the U.S. financial firm Barclays.

The Samsung Galaxy Card, which has no annual fee, offers additional cashback on Samsung product purchases and payments made via Samsung Wallet. Benefits also apply to streaming service subscriptions and general purchases.

The card is integrated with Samsung Wallet, allowing users to store and manage credit cards, identification, and digital keys in one place, all protected by the security platform 'Samsung Knox.'

Chae Won-cheol, Executive Vice President of the Digital Wallet Team at Samsung Electronics' MX Business, stated, "We designed this card so that users can receive benefits every time they make a payment," adding, "Our goal is to provide a more convenient mobile payment experience and tangible value."

Denny Nealon, CEO of Barclays US, said, "This collaboration is an example of Barclays' strategy to introduce new financial services in partnership with global brands."

The Samsung Galaxy Card will be available for application through Samsung stores and online channels in the U.S. starting July 22, and it will be issued on the Visa payment network.

Customers who meet certain eligibility requirements can apply online starting today.

Industry experts view the launch of this card as part of Samsung Electronics' strategy to expand its mobile ecosystem.

The move is expected to help increase the usage of Samsung Wallet and expand customer touchpoints.

Previously, Apple launched the Apple Card in 2019 in partnership with Goldman Sachs.

However, Goldman Sachs subsequently withdrew from the consumer finance business, and the related operations were transferred to JPMorgan Chase earlier this year.

(Photo: Provided by Samsung Electronics, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.