Samsung is preparing to intensify its competition with Apple by expanding its ecosystem beyond smartphones. The company is reportedly planning to launch a credit card in the USA, potentially in collaboration with British bank Barclays, to rival the Apple Card. This new credit card is expected to operate on Visa’s network and offer cashback benefits that can be used for purchasing Samsung or partner products. Alongside the credit card, Samsung aims to introduce a range of financial products, including digital prepaid accounts, high-yield deposit accounts, and an enhanced Buy Now, Pay Later service, all designed to boost the adoption of Samsung Wallet, its mobile payment system. These initiatives are anticipated to increase consumer spending and drive sales of Samsung’s electronic products. Although discussions with Barclays have taken longer than anticipated, an official announcement is expected by the end of the year. Samsung has previously explored similar ventures, and now it appears poised to launch its credit card, building on its existing offerings in India and South Korea.
Is Samsung set to challenge Apple Card and Wallet in the USA?
