Overview
- Negotiations are not finalized, with reporting indicating discussions have taken longer than expected but could lead to an announcement before year‑end.
- The card would likely run on Visa and be issued through Barclays’ U.S. affiliate, according to documents cited in the coverage.
- Plans under review include high‑yield savings, digital prepaid accounts, and buy now, pay later options integrated with Samsung Wallet.
- Cashback rewards branded as Samsung Cash are envisioned to flow into a user’s Samsung account, with the option to deposit into a Samsung savings product.
- Samsung is positioning the initiative to boost Wallet adoption in the United States and to compete more directly with Apple Card and Apple Wallet, building on stronger Wallet usage already established in Korea.