Samsung Electronics launched its inaugural co-branded credit card in the United States, broadening its digital wallet ecosystem ahead of the Galaxy Unpacked event, where new Galaxy devices are anticipated.
The Samsung Galaxy Card, provided by Barclays U.S. Consumer Bank on the Visa platform, delivers cash rewards on daily expenses, featuring increased rewards for purchases related to Samsung.
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Customers who qualify can start applying for the card, while applications from the general public will be available starting Wednesday, coinciding with Samsung's Galaxy Unpacked event.
The firm stated that cardholders spending $2,000 in the initial 90 days after account opening will obtain $200 in bonus cash rewards.
The card provides 5 percent cash back on qualifying Samsung purchases, 3 percent on transactions via Samsung Wallet, 2 percent on certain streaming platforms such as Netflix, Disney+, and Spotify, and 1 percent on all other transactions. Cardholders additionally enjoy a 20 percent discount on Samsung VIP Advantage memberships and have the opportunity to earn extra rewards when buying or renewing those memberships.
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"For years, users have relied on Samsung products to enhance their daily life," said Chai Won-cheol, executive vice president and head of the Digital Wallet Team at Samsung Electronics' Mobile eXperience Business.
The Samsung Galaxy Card is offered in a premium metal physical version and as a virtual card, integrated with Samsung Wallet, so users can keep it together with payment cards, digital IDs, passes, and digital keys.
Samsung stated that the integration is safeguarded by its Knox mobile security system.
Denny Nealon, CEO of Barclays U.S. Consumer Bank, stated that the collaboration showcases the bank's approach to creating co-branded financial offerings with top international firms. Visa stated that the partnership merges Samsung's device ecosystem, Barclays' financial service knowledge, and Visa's payment network.
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The release occurs prior to Samsung's Galaxy Unpacked event in London, where the South Korean tech leader is anticipated to introduce a range of new products, such as foldable smartphones and smart glasses.