Samsung launches first US credit card with Barclays, signals ambitions for deeper financial services push

The credit card launch also puts Samsung in direct competition with Apple Pay, which dominates payment services in the U.S. The launch comes as technology companies and banks race to deepen ties between digital wallets and financial products, seeking to make smartphones the primary device for payments and money management, and both Samsung and Barclays want to capitalize on it.

Doug Villone, head of cards and partnerships at Barclays US Consumer Bank, said the digital card was aimed at creating a more seamless payments experience for customers, who increasingly manage finances through mobile devices rather than physical wallets.

Seventy percent of U.S. households have a Samsung device and nearly 30% of U.S. households own three or more of its products, said Sih Lee, executive vice president, head of North America Fintech Business, Samsung Electronics.

"The relationship that we're building with Barclays is a strategic and long-term relationship," Lee said. "So while we don't have everything all lined up today, we do have intention to collaborate and explore all avenues of different products and different capabilities that we can actually make available as it makes sense to our customers," he added, signaling the company's ambition to go beyond cards.