Samsung has announced that during the first month of availability in South Korea, Samsung Pay has done $30 million in accumulated transaction volume. The company has processed more than 1.5 million transactions so far, and already has nearly 36 percent of active users, with around 10 percent using the service daily.
Samsung Pay is slated to arrive in the US officially on September 28, with availability expanding to the UK, Spain and China soon. The service is available on the Galaxy Note 5, Galaxy S6 edge+, Galaxy S6 and Galaxy S6 edge, and will also be available on the Gear 2 when it launches.
SAMSUNG ANNOUNCES A SUCCESSFUL PAYMENT LAUNCH IN SOUTH KOREA WITH $30 MILLION IN ACCUMULATED TRANSACTION VOLUME IN FIRST MONTH
London, UK – 23rd September, 2015 – Today, Samsung 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.
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