The long-running rivalry between Apple and Samsung is getting a new financial twist. According to The Wall Street Journal, Samsung is preparing to launch its own credit card in the United States, a direct jab at Apple’s growing fintech empire.
The South Korean tech giant is reportedly in advanced talks with British bank Barclays to roll out a Visa-powered Samsung credit card, with a formal announcement expected by the end of the year. While details are still under wraps, insiders suggest the card will come with cashback rewards that can be funneled straight into Samsung Wallet, letting users spend their perks on new Galaxy gadgets, TVs, or even smart fridges.
The move is no coincidence. Apple’s Card, launched in 2019 in partnership with Goldman Sachs and Mastercard, has been a strong addition to Apple’s ecosystem, tying financial services directly to iPhones and Apple Pay. But despite its sleek titanium aesthetic and 3% cashback at select retailers, the Apple Card has reportedly become a financial burden for Goldman Sachs, prompting talk of a potential switch to JPMorgan.
Samsung, meanwhile, sees an opportunity to expand beyond hardware and software into the booming digital banking market. Sources told The Wall Street Journal that the company plans to offer a full suite of financial products, including high-yield savings accounts, prepaid cards, and Buy Now, Pay Later options. Barclays will likely back several of these services, helping Samsung cement its U.S. presence in a market increasingly hungry for flexible, mobile-first payment tools.
If successful, Samsung could create an ecosystem where consumers earn cashback from one product and spend it on another, deepening brand loyalty across its vast lineup of devices, from smartphones and tablets to home appliances. That’s a broader playground than Apple’s mostly mobile-driven domain.
Samsung isn’t new to fintech experiments either. The company launched the Samsung Pay Card in South Korea and the U.K. in 2020, and a credit card partnership with Axis Bank in India in 2022. But the U.S. market, with its fierce competition and Apple’s entrenched user base, is another level entirely.
Still, the timing couldn’t be better. As the lines blur between tech and finance, the next big battleground isn’t just in your pocket — it’s in your wallet app.
Apple built its card around simplicity and privacy; Samsung appears ready to counter with choice, integration, and cashback versatility. In other words, it’s shaping up to be a fintech face-off between two of the world’s biggest tech empires, and your next swipe might decide the winner.
