Samsung has done wonders in the financial industry, and now it seems to be eyeing to enter into the credit card market in the US, planning to challenge Apple’s financial power.
Well, indeed, Apple has led the financial market in the US, leaving Samsung behind despite its powerful significance. Meanwhile, right after the collaboration with SoftBank to introduce 6G and AI-RAN innovations, the company appears to be taking a significant lead in the finance market in the country.
Basically, according to a recent report from the Wall Street Journal, Samsung is now joining hands with the British bank ‘Barclays’ and has begun negotiating with the bank to launch its own credit card in the US.
At the same time, it is expected that the credit card will likely use the Visa payment system, which appears to be an Apple Card alternative.
Indeed, Samsung’s own payment app has acquired a large fan community in South Korea, in particular. Samsung, along with Barclays Bank, is supposed to increase Samsung Wallet’s adoption in the US; however, the Korean giant can not follow the leading trail in the US, and hence it lags behind Apple.
Well, Samsung has already begun Samsung Wallet’s Buy Now, Pay Later feature in the US, while on the other hand, Samsung aims to build a financial ecosystem where various services, especially the cashback earned with the Samsung credit card, will be transferable to the users’ Samsung Account.
Nevertheless, Samsung is eyeing to develop one of the biggest brands by copying Apple’s financial products with the help of Barclays back and launching its own credit card in the US.
