Samsung Wallet Adds BNPL Option for Existing Credit Cards

Buy now, pay later (BNPL) loans have become staples in digital wallets, but Samsung Wallet’s upgrades aim to cut out the middleman.

The mobile phone maker is rolling out installment payment options in select U.S. states, ahead of a broader launch later this year. Samsung will initially offer four repayment options, ranging from six payments over two weeks to and the longest extending to nine monthly payments.

Although the functionality is facilitated by BNPL company Splitit, Samsung’s model introduces a key difference: users don’t need to create separate accounts or undergo credit checks. With other digital wallets, consumers typically have to apply for accounts with BNPL providers like Klarna and Affirm before adding those services.

Instead, Samsung Wallet users can make installment purchases using their existing Visa and Mastercard credit cards, managing everything directly through the digital wallet.

Entering the Fray

This upgrade builds on the tap-to-transfer feature that Samsung recently launched. The contactless payment capability was initially introduced to facilitate peer-to-peer (P2P) payments.

Tap-to-transfer allows users to send money from a debit card in their Samsung Wallet to a card stored on the recipient’s device—including those in digital wallets from Apple and Google.

Adding P2P payments functionality puts Samsung Wallet in competition with companies like PayPal and Block, much like its BNPL launch placed it in the fray with Klarna and Affirm.

This is no easy task—not only because these companies are firmly established, but also because Samsung Wallet trails Apple Pay and Google Wallet in U.S. digital wallet market share.

Just a Swipe Away

By and large, many of these companies have been aggressively expanding their services. PayPal recently piloted its digital wallet in Germany, aiming to capture more in-store payments.

Similarly, Klarna launched a debit card in the U.S., as part of its continued push toward becoming a full-fledged financial institution. Klarna has also been clear about its objective to become a super app for its customers—an all-in-one solution for every financial need.

This has been a common goal among many leading financial players, and Samsung echoed the sentiment, stating it’s just a swipe away from becoming the central hub for items like digital IDs, tickets, and payments.