Samsung Launches First U.S. Credit Card to Rival Apple Pay

Samsung Electronics is stepping into the U.S. payment market with its first co-branded credit card, the "Samsung Galaxy Card." Launched in collaboration with Barclays, the card aims to offer consumers tailored benefits and enhance Samsung's presence in the digital wallet space.

The card, which will be issued by Barclays' U.S. consumer finance division and utilize Visa's payment network, allows users to earn cash back on purchases. Key rewards include 5% cash back on Samsung products, 3% on payments made through Samsung Wallet, and 1% on all other transactions. New cardholders can also receive a $200 bonus after spending $2,000 within 90 days of account opening.

Crafted from metal with a black finish and the Samsung logo, the physical card integrates with Samsung Wallet. This allows users to store the card alongside other credit cards, identification, and digital keys, all protected by Samsung's Knox security platform. The launch signifies Samsung's ambition to challenge Apple's established position in the U.S. payment sector, which has successfully integrated its hardware, wallet, and financial products since 2019.

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This launch puts Samsung Electronics in direct competition with Apple Pay, which has virtually dominated the U.S. payment market.