Samsung Pay reaches $30 Million Transaction Volume in First Month

Last updated:

Samsung has announced that Samsung Pay is off to a successful start in South Korea with more than $30 million in accumulated transaction volume one month since it first launched.

Samsung Pay’s biggest advantage is its wide acceptance among merchants in South Korea with more than 1.5 million total transactions to date.

Usage of the mobile payment service has surged, recording approximately 36 percent active users in its first month with about 10 percent using Samsung Pay daily.

“Although the details on Samsung Pay usage are constantly being updated, the response we’ve received so far has been beyond our expectations,” said Injong Rhee, executive vice president of Samsung Electronics and global head of Samsung Pay.

“We knew Samsung Pay would be a game-changer in the mobile payments industry and now with the user data, we are seeing the greater impact it is having on consumer behaviour and on the lifestyle of our customers.”

Samsung Pay in South Korea also introduced several value-added services including:

  • Payments that support select integrated circuit (IC) readers
  • Online payments using a Samsung Card (credit and debit)
  • Advanced ATM cash withdrawal transactions using a Woori bank account
  • Transportation services and loyalty card memberships coming soon…

Samsung Pay is scheduled to launch in the United States on the 28th September, with plans to bring the service to the U.K., Spain and China soon.

Samsung Pay is currently available on the Galaxy S6, S6 edge, S6 edge+ and Note 5 devices, and it is the first payment solution that is simple, secure and accepted almost anywhere you can swipe or tap a card.

Samsung Pay will also support NFC technology on Samsung Gear S2 in select countries after the device launches.

Rapid Mobile

Rapid Mobile uses cookies, tokens, and other third party scripts to recognise visitors of our sites and services, remember your settings and privacy choices, and - depending on your settings and privacy choices - enable us and some key partners to collect information about you so that we can improve our services and deliver relevant ads.

 

By continuing to use our site or clicking I Accept, you agree that Rapid Mobile and our key partners may collect data and use cookies for personalised ads and other purposes, as described more fully in our privacy policy.

 

You can change your settings at any time by clicking Manage Settings or by visiting our Privacy Centre for more detailed information.

 

Privacy Settings saved!
Cookie Services

When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies.Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.

These cookies allow us to count visits and traffic sources, so we can measure and improve the performance of our site.

We track anonymized user information to improve our website.
  • _ga
  • _gid
  • _gat

Decline all Services
Accept all Services