Samsung pay completes its 1st year and celebrates with almost 100 million transactions.
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Samsung Pay, the company’s mobile payments platform, has surpassed “nearly 100 million unique transactions in seven countries” within its first year of availability.
Samsung Pay launched in South Korea in August 2015 and in the United States in September of that year. “Samsung Pay also continues to add banking and merchant partners across the globe, with more than 440 bank issuers now supported by the service”.
A year after launch, Samsung Pay has been used to make around 100 million unique transactions in seven countries, with the electronic giant’s home market of South Korea leading the way. The service is also set to launch in South Africa in 2017.In South Korea the market as processed more than $1.78 billion, according to the mobile manufacturer.
Of course, Samsung Pay doesn’t come close to the number of payments handled by Apple Pay, which accounts for roughly 75 percent of mobile payments in the U.S. Still, Apple Pay had nearly a year head start on its Android rivals, Samsung Pay and Android Pay.
“Our ambition to reach a world without wallets continues to draw ever closer and this strong consumer adoption signals a shift in behaviour and demonstrates the continued enthusiasm for a safer, smarter and better mobile wallet”. Some might even argue that it has a bigger mobile payment presence than Android Pay, despite the latter’s more encompassing coverage as far as smartphone models are concerned.
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Samsung loves to sing about how Samsung Pay’s simplicity, security, and ubiquity are the cornerstones of its success.
