SAMSUNG it seems to be preparing something big, but this time not in the field of mobile telephony. Its next move will focus on a curious asset that stands out in the competition against Apple: a credit card.
The South Korean company is now in the middle negotiations with Barclays bank. The goal: to launch an own-branded credit card in the United States, using Visa’s global payment network. This way the company would enter the digital ecosystem with an additional resource: financial services.
The Samsung card will resist the Apple Card and consolidate user loyalty
Samsung is undoubtedly looking for a slice of the American financial pie. By partnering with a giant like Barclays, both companies gain a valuable advantage. On the one hand, Samsung can build deeper loyalty within your product ecosystemranging from smartphones and tablets to smart appliances.
On the other hand, Barclays expands its reach into the lending market for consumption largest in the world. The official announcement is expected to be made later this year and this card will not be a standalone product, but rather the centerpiece of a financial suite broader that could include high-yield savings accounts and “buy now, pay later” options.
It is clear that this is the case Samsung is aiming directly at Apple’s playbook. Its Cupertino rival already has a significant lead in the US with Apple Card and Apple Payservices that have achieved mass adoption. Meanwhile, Samsung’s financial tools, such as Samsung Wallet, have not received the same attention.
With its own card, Samsung hopes to change that. Let’s imagine a cashback rewards system which is deposited directly into the user’s account within Samsung Wallet. These funds could then be easily used your next purchase of a Galaxy producta television or even a smart refrigerator. This mechanism creates a virtuous circle that entices users to remain within the Samsung universe.
This strategy clearly reflects what Apple did in 2019 with the launch of its Apple Carddeveloped in collaboration with Goldman Sachs and Mastercard. That card has been introduced Attractive advantages and interest-free financing for branded products, a move that has been extremely successful in consolidating its financial presence.
The rivalry between Samsung and Apple in the smartphone industry is legendary, but with the advancements in hardware this industry is no longer enough. Right now, it seems like real competition is moving towards integrated services that make up the ecosystem of each brand.
If everything goes as planned, Samsung is about to make a huge step into personal finance. We’re not just waiting for the new Galaxy S26, but also a change in how loyal users will interact with the brand.
Source | Phonearena
