Samsung Pay marks one year anniversary with nearly 100 million transactions in seven countries

Samsung Electronics Co. Ltd., celebrated on 23 of august the one year anniversary of Samsung Pay, the most widely accepted mobile payment system, with about 100 million unique transactions in seven countries to date.

“Since its introduction a year ago, Samsung Pay continues to lead mobile payments by providing services that are simple, secure and virtually anywhere,” said Injong Rhee, CTO and EVP of Software and Services, Mobile Communications Business at Samsung Electronics. “Our ambition to reach a world without wallets continues to draw ever closer, and this strong consumer adoption signals a shift in behavior and demonstrates the continued enthusiasm for a safer, smarter and better mobile wallet.”

„Samsung Pay pushes to grow and provide enhanced services, making it a holistic digital wallet extending beyond just credit or debit cards. Users can add coupons and membership cards, and today there are more than 4 million registered membership cards in the United States and South Korea, providing more convenient and flexible payment experiences in users’ everyday lives.* Samsung Pay also continues to add banking and merchant partners across the globe, with more than 440 bank issuers currently supported by the service.”, according to the press release.

Across Korea specifically, the market has processed more than 2 trillion won (nearly $1.8 billion) in transactions with more than 25 percent of the transactions made online. Nearly 11 million cards related to value-added services, including membership, ATM and transit cards, have been registered, demonstrating „the clear shift in consumer behavior and benefits Samsung Pay brings to users in Korea”, says the release.

In addition to the US and South Korea, the service is available in Singapore, China, Spain, Australia and Brazil. Other markets, including the UK and Canada, are expected to follow soon.