diff --git a/paymentsheet/api/paymentsheet.api b/paymentsheet/api/paymentsheet.api
index 1bb3913f76a..13cd9ff45b8 100644
--- a/paymentsheet/api/paymentsheet.api
+++ b/paymentsheet/api/paymentsheet.api
@@ -2469,6 +2469,13 @@ public final class com/stripe/android/paymentsheet/state/PaymentSheetState$Loadi
 	public synthetic fun newArray (I)[Ljava/lang/Object;
 }
 
+public final class com/stripe/android/paymentsheet/ui/ComposableSingletons$DefaultPaymentMethodLabelKt {
+	public static final field INSTANCE Lcom/stripe/android/paymentsheet/ui/ComposableSingletons$DefaultPaymentMethodLabelKt;
+	public static field lambda-1 Lkotlin/jvm/functions/Function2;
+	public fun <init> ()V
+	public final fun getLambda-1$paymentsheet_release ()Lkotlin/jvm/functions/Function2;
+}
+
 public final class com/stripe/android/paymentsheet/ui/ComposableSingletons$EditPaymentMethodKt {
 	public static final field INSTANCE Lcom/stripe/android/paymentsheet/ui/ComposableSingletons$EditPaymentMethodKt;
 	public static field lambda-1 Lkotlin/jvm/functions/Function2;
diff --git a/paymentsheet/src/main/java/com/stripe/android/paymentsheet/ui/DefaultPaymentMethodLabel.kt b/paymentsheet/src/main/java/com/stripe/android/paymentsheet/ui/DefaultPaymentMethodLabel.kt
new file mode 100644
index 00000000000..5677991768d
--- /dev/null
+++ b/paymentsheet/src/main/java/com/stripe/android/paymentsheet/ui/DefaultPaymentMethodLabel.kt
@@ -0,0 +1,51 @@
+package com.stripe.android.paymentsheet.ui
+
+import android.content.res.Configuration
+import androidx.compose.foundation.background
+import androidx.compose.foundation.layout.Row
+import androidx.compose.material.MaterialTheme
+import androidx.compose.material.Text
+import androidx.compose.runtime.Composable
+import androidx.compose.ui.Modifier
+import androidx.compose.ui.platform.testTag
+import androidx.compose.ui.res.stringResource
+import androidx.compose.ui.text.font.FontWeight
+import androidx.compose.ui.text.style.TextOverflow
+import androidx.compose.ui.tooling.preview.Preview
+import com.stripe.android.paymentsheet.R
+import com.stripe.android.uicore.DefaultStripeTheme
+import com.stripe.android.uicore.stripeColors
+
+@Composable
+internal fun DefaultPaymentMethodLabel(
+    modifier: Modifier,
+) {
+    Text(
+        modifier = modifier
+            .testTag(
+                TEST_TAG_DEFAULT_PAYMENT_METHOD_LABEL
+            ),
+        text = stringResource(id = R.string.stripe_wallet_default),
+        style = MaterialTheme.typography.caption.copy(fontWeight = FontWeight.Medium),
+        color = MaterialTheme.stripeColors.placeholderText,
+        maxLines = 1,
+        overflow = TextOverflow.Ellipsis,
+    )
+}
+
+@Composable
+@Preview(uiMode = Configuration.UI_MODE_NIGHT_YES)
+@Preview
+private fun DefaultPaymentMethodLabelPreview() {
+    DefaultStripeTheme {
+        Row(
+            modifier = Modifier.background(color = MaterialTheme.stripeColors.component)
+        ) {
+            DefaultPaymentMethodLabel(
+                modifier = Modifier
+            )
+        }
+    }
+}
+
+internal const val TEST_TAG_DEFAULT_PAYMENT_METHOD_LABEL = "default_payment_method_label"
diff --git a/paymentsheet/src/test/java/com/stripe/android/paymentsheet/ui/DefaultPaymentMethodLabelScreenshotTest.kt b/paymentsheet/src/test/java/com/stripe/android/paymentsheet/ui/DefaultPaymentMethodLabelScreenshotTest.kt
new file mode 100644
index 00000000000..91241066782
--- /dev/null
+++ b/paymentsheet/src/test/java/com/stripe/android/paymentsheet/ui/DefaultPaymentMethodLabelScreenshotTest.kt
@@ -0,0 +1,31 @@
+package com.stripe.android.paymentsheet.ui
+
+import androidx.compose.foundation.layout.padding
+import androidx.compose.ui.Modifier
+import androidx.compose.ui.unit.dp
+import com.stripe.android.screenshottesting.FontSize
+import com.stripe.android.screenshottesting.PaparazziRule
+import com.stripe.android.screenshottesting.SystemAppearance
+import com.stripe.android.utils.screenshots.PaymentSheetAppearance
+import org.junit.Rule
+import org.junit.Test
+
+internal class DefaultPaymentMethodLabelScreenshotTest {
+
+    @get:Rule
+    val paparazziRule = PaparazziRule(
+        SystemAppearance.entries,
+        PaymentSheetAppearance.entries,
+        FontSize.entries,
+    )
+
+    @Test
+    fun testDefaultPaymentMethodLabel() {
+        paparazziRule.snapshot {
+            DefaultPaymentMethodLabel(
+                modifier = Modifier
+                    .padding(horizontal = 4.dp, vertical = 4.dp)
+            )
+        }
+    }
+}
diff --git a/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,CrazyAppearance,DefaultFont].png b/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,CrazyAppearance,DefaultFont].png
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index 00000000000..a752797d229
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diff --git a/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,CrazyAppearance,LargeFont].png b/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,CrazyAppearance,LargeFont].png
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diff --git a/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,CustomAppearance,DefaultFont].png b/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,CustomAppearance,DefaultFont].png
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diff --git a/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,CustomAppearance,LargeFont].png b/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,CustomAppearance,LargeFont].png
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diff --git a/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,DefaultAppearance,DefaultFont].png b/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,DefaultAppearance,DefaultFont].png
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diff --git a/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,DefaultAppearance,LargeFont].png b/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[DarkTheme,DefaultAppearance,LargeFont].png
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diff --git a/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[LightTheme,CrazyAppearance,DefaultFont].png b/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[LightTheme,CrazyAppearance,DefaultFont].png
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diff --git a/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[LightTheme,CrazyAppearance,LargeFont].png b/paymentsheet/src/test/snapshots/images/com.stripe.android.paymentsheet.ui_DefaultPaymentMethodLabelScreenshotTest_testDefaultPaymentMethodLabel[LightTheme,CrazyAppearance,LargeFont].png
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