Samsung Pay clocks up nearly 100M transactions - Mobile World Live

Samsung Pay clocks up nearly 100M transactions

24 AUG 2016

Samsung presented a number of statistics to show progress for its payment service in its first 12 months, including nearly reaching 100 million transactions.

Samsung Pay first launched in the vendor’s home market of South Korea in August 2015 before debuting next in the US. It is now available in a total of eight markets. The others are Australia, Brazil, China, Singapore, Spain and Puerto Rico.

The vendor also said there are more than 4 million membership and loyalty cards registered by users in the US and South Korea. Encouraging users to add such cards is viewed as important to stimulating repeat usage of the payment service.

Samsung Pay bills itself as “the most widely accepted mobile payment system” because unlike rivals such as Apple Pay and Android Pay, it also works with older point of sale terminals, as well as newer, contactless ones.

The South Korean company also highlighted in its roundup that it has 440 bank partners which have issued virtual versions of their cards that can be added to the Samsung Pay wallet.

Finally, Samsung trotted out two statistics specific to its domestic market, which is likely to be the place where it is most popular.

The volume of transactions since Samsung Pay’s launch in South Korea has reached KRW 2 trillion ($1.67 billion). The company also produced an infographic that appeared to say 25 per cent of Samsung Pay transactions were made online rather than at the point of sale.

Samsung Pay is currently available on select Galaxy devices including the new Galaxy Note7, Galaxy S7 and S7 edge, S6 edge+, Note5 as well as other premium and some mid-range options such as the 2016 models of the Galaxy A5, A7 and A9.


Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

Read more