Samsung Negotiating with Barclays for Consumer Credit Card, According to WSJ
Written by Emily J. Thompson, Senior Investment Analyst
Samsung and Barclays Partnership: Samsung is in advanced discussions with Barclays to launch a consumer credit card in the U.S., with an announcement expected by the end of the year, although previous deadlines have been missed and a deal is not guaranteed.
Visa's Involvement: Visa is reportedly in talks to serve as the network for the new credit card being developed by Samsung and Barclays.
Additional Financial Products: In addition to the credit card, Samsung is exploring the launch of a high-yield savings account, a digital prepaid account, and a buy-now pay-later product.
Uncertain Timeline: The timeline for finalizing the credit card deal remains uncertain, as discussions have faced delays.
Analyst Views on BCS
About BCS
Barclays PLC is a diversified bank with five divisions comprising Barclays UK, Barclays UK Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays US Consumer Bank. The Barclays UK division represents businesses that sit within the United Kingdom ring-fenced bank, Barclays Bank UK PLC and its subsidiaries, and comprises Personal Banking, UK Business Banking and Barclaycard Consumer UK. The Barclays UK Corporate Bank division offers lending, trade and working capital, liquidity, payments, and FX solutions for corporate clients. Barclays Private Bank and Wealth Management division comprises the Private Bank, Wealth Management, and Investments businesses. Barclays Investment Bank division incorporates the Global Markets, Investment Banking, and International Corporate Banking businesses. Barclays US Consumer Bank division represents the United States credit card business, focused on the partnership market, as well as an online deposit franchise.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
