Samsung Electronics Co.’s mobile payment tool – Samsung Pay – boasted 6.44 million monthly users in September, data showed Wednesday, making it the most popular online transaction platform. According to the data compiled by industry tracker WiseApp on Android users, the number of Samsung Pay users in September was double the 3.22 million users posted a year earlier.
The figure is based on the number of people who used the application at least once a month.
The survey involved 2,300 South Korean users of Android-powered phones, the industry tracker said. The combined number of Android users in South Korea is estimated at 37 million.
ISP/Paybooc followed with 3.99 million users, while Shinhan Fan posted 2.64 million users. Toss had 2.2 million users.
The research excluded mobile payment services that can be used without a separate application, such as Naver Pay and Kakao Pay.
„Though Libra has met with fierce resistance from central banks and supervisory authorities and might never see the light of day, in many other cases tech firms (both start-ups and established big players) have successfully captured bits and pieces of universal banks’ traditional value chain. This trend may only intensify in the coming years. In this environment, European banks remain squeezed.”