Samsung Pay launch success in South Korea


Service sees $30 million transaction volume in the country in first month

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 has 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% active users in its first month with about 10% using Samsung Pay daily.

Said Injong Rhee, executive vice president of Samsung Electronics and global head of Samsung Pay: “Although the details on Samsung Pay usage are constantly being updated, the response we’ve received so far has been beyond our expectations. 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; and transportation services and loyalty card memberships, which are coming soon.

Samsung Pay is scheduled to launch in the US on the 28 September, with plans to bring the service to the UK, Spain and China soon after.

Samsung Pay is currently available on the Galaxy S6, S6 edge, S6 edge+ and Note 5 devices. The service will also support NFC technology on Samsung Gear S2 in select countries after the device launches.


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