Samsung is making strides towards introducing its own credit card to the United States market, as evidenced by a recent trademark application filed with the United States Patent and Trademark Office (USPTO). The application seeks to trademark the name “Samsung Galaxy Card” for a credit card, marking the first official confirmation of the financial service that Samsung has reportedly been working on for several years.
The trademark application specifies that the Samsung Galaxy Card will be an “electronically encoded credit card”, hinting at its integration with the existing Samsung Wallet app. This integration will allow users to manage their bank accounts, track spending, and make touch payments directly from their devices, such as phones and smartwatches.
Reports from last year suggested that Samsung was in discussions with Barclays, a UK-based consumer bank, to launch a credit line in the US. The brand has been exploring the concept of a branded credit card since 2018, and the recent trademark application indicates that the project is progressing towards fruition.
In a move to compete with Apple’s successful Apple Card ecosystem, Samsung aims to offer its users similar benefits and rewards. Apple Card provides users with a physical titanium card and perks like three percent daily cash back on hardware purchases. By introducing its own credit card, Samsung could incentivize customers to purchase their phones, tablets, and other smart home appliances.
The trademark application for the Galaxy credit card was filed on February 12, and the approval process typically takes 12-18 months. While the launch of Samsung’s credit card service may not be immediate, the trademark filing demonstrates the brand’s commitment to expanding into the financial services sector.