Samsung’s own mobile payment service is not available in all markets but has managed to grow tremendously since it was launched. The payment service was launched about a year ago and is available in select markets where it allows users to pay for goods or services without using their cards or cash. This is possible as Samsung Pay acts as a mobile wallet that you can use to make payment in establishments that support it. All you have to do is link Samsung pay with your card and there will be no need of carrying you card every time.
In just 12 months, Samsung is reporting that over 100 million transactions have been processed through Samsung Pay. This is impressive considering that the payment solution is limited to a few select markets and on the company’s own Galaxy devices.
Commenting on this milestone, Injong Rhee, EVP of Software and Services, Mobile Communications Business at Samsung Electronics said, “Since its introduction a year ago, Samsung Pay continues to lead mobile payments by providing services that are simple, secure and virtually anywhere.”
“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.”
4 Million Membership cards
Samsung also went ahead to reveal that there are over 4 million registered membership cards in the US and its home country of South Korea. This is huge for a payment solution that is one-year-old. The company right now has to look for ways to expand to other markets if it is to continue growing.