Samsung is said to be in late-stage talks with Barclays to develop a co-branded Visa credit card that would enable Samsung Wallet to emerge from its stocking-stuffer role into the real-time financial center of Galaxy owners.
The card, according to The Wall Street Journal, would focus on cash-back rewards you can put directly in a Samsung account to get discounts on Samsung products and services — essentially everyday spending turned into money off phones, wearables, TVs, and whatever else the company is peddling. Negotiations are still underway, timelines have slipped in the past, and a deal isn’t definite — but the direction is clear: Samsung wants payments more closely connected to its hardware ecosystem.
What a Samsung Credit Card Might Offer Galaxy Owners
Early chatter suggests there are going to be simple rewards that will build up as cash back and can be spent on Samsung products. That, in itself, is a classic ecosystem play. If the company combines that with instant digital issuance into Samsung Wallet, biometric security through Knox, and no-fuss tap-to-pay using a Galaxy phone or watch people are already carrying around, it could feel like a natural continuation of its devices.
Look for the basics — contactless support via Visa’s network, wide merchant acceptance, and perhaps numberless card designs — to be table stakes.
What we’re not sure about is the earn rates and perks. If they are to cut through, Samsung and Barclays will need a headline rate on Samsung.com and Galaxy Store purchases, everyday categories, as well as device financing solutions that allow them to buy now and pay later. For comparison, the Apple Card gives 2% back when you use Apple Pay and 3% when shopping with select partners, as well as interest-free installments on Apple gear. Matching or exceeding those benefits — while keeping fees in check — will set the tone.
Samsung is also said to be working on a high-yield savings account, a digital prepaid account, and a Buy Now, Pay Later feature. If properly integrated, those products could allow users to do things like manage device installments, stash cash back away into savings, or split prices on bigger-ticket purchases — all within Samsung Wallet.
Why This Is a Big Deal for Galaxy Device Owners
Samsung has long sought to develop that kind of ecosystem loyalty with its trade-in programs, Samsung Rewards, and tight device integration. A co-branded credit card would provide the company with a lever it doesn’t yet have in the US — namely, everyday spend that leads directly to hardware upgrades. And with US credit card balances over $1T, according to the New York Fed, even a sliver of Galaxy users’ monthly spend could amount to redemption occurring early and often on phones and devices.
The timing is notable. Apple’s relationship with Goldman Sachs has been rocky, and there have even been reports that Goldman is considering pulling the plug while the Apple Card still gets use. And Google put its Plex banking initiative on ice. If Samsung does successfully implement this program with an experienced issuer, such as Barclays — which has a lengthy list of co-branded programs and has made strides toward digital onboarding — then it would complete the puzzle for the Android side, giving Samsung Wallet its unique positioning beyond tap-to-pay.
The Bar for Competitive Co-Branded Cards Is High
Co-brands condition the consumer. Co-brands train consumers to believe they should get substantial rewards. Amazon’s Prime Visa earns 5% back at Amazon and Whole Foods. Apple’s 3 percent at partners undergirds its pitch. If Samsung wants its card to be the default for Galaxy fans, it has to offer a bang-up rewards rate on purchases at Samsung, and some solid day-to-day earn elsewhere — grocery, dining, transit — without burying users under a mountain of fine print.
Network reach will not be a problem. Acceptance for Visa runs into the millions of US merchants, and in-store and on-transit tap-to-pay has become mainstream. The software polish and the lifecycle perks — instant provisioning to Samsung Wallet, purchase protection, extended warranties for Samsung products, white-glove trade-in credits for trading in old devices, and device repair benefits through integration with Samsung Care+ — will matter.
Risks and Realities of a Samsung–Barclays Card
Co-branded cards can be expensive if underwriting, rewards breakage, and fraud aren’t handled carefully. The challenges of Apple’s partners are a reminder that even hot products must pencil out for the banks. Barclays’ history with both airline and retail portfolios may help minimize risk, but APRs, fees, and credit lines will ultimately dictate how consumers respond.
The scrutiny on BNPL and consumer fees is further tightening. The Consumer Financial Protection Bureau has said that many BNPL users already have revolving balances, underlining the importance of both clear disclosures and responsible design. If Samsung offers installments, count on regulatory-hugging flows and credit-checking similar to traditional loan standards.
The Bigger Strategic Play for Samsung Wallet Users
Samsung has ambitions for Wallet beyond being a passive holder of passes. By tying it to a house-branded card, savings, and installments, it could create a flywheel: spend earns rewards; rewards power upgrades; upgrades deepen Wallet use. “Samsung doesn’t need Apple-like share,” said Tom Kang, a research director at Counterpoint Research (which put Samsung close to a quarter of US smartphone shipments), “only high adoption within the base.”
None of this is official yet, and timelines can change. But the strategy fits. If the rumored Samsung–Barclays Visa shows up with solid rewards, tight Galaxy integration, and clear terms, it might be the most significant Wallet upgrade Android users have seen in years — a silent nudge to your next Galaxy purchase every time you pay.