Samsung launches first US credit card with Barclays, signals ambitions for deeper financial services push
Samsung Electronics launched its first U.S. co-branded credit card with Barclays on Monday, deepening its push into the financial services space in the country. The Samsung Galaxy Card, issued by Barclays and running on Visa's network, allows users to apply, manage accounts, track spending, and redeem rewards entirely through Samsung Wallet. The card offers 5% cash back on Samsung purchases and additional rewards on Samsung Pay and other spending categories.
Doug Villone, head of cards and partnerships at Barclays US Consumer Bank, stated the digital card aimed to create a more seamless payments experience for customers. Sih Lee, executive vice president, head of North America Fintech Business, Samsung Electronics, noted that 70% of U.S. households have a Samsung device and nearly 30% of U.S. households own three or more of its products. Lee also said, "The relationship that we're building with Barclays is a strategic and long-term relationship."
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Samsung Electronics and Barclays have partnered to launch the first U.S. co-branded credit card, marking a significant move into financial services.
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