It’s only been a few months since Samsung has introduced the new mobile payment service in South Korea. The service recently launched in the US via the top mobile carriers like Verizon, T-Mobile, and AT&T. In its native country, we already learned that the app was used in over 1.5 million transactions only within one month. That was more than a month ago so we’re assuming that more have been added.
We’ve got news that after two months, Samsung Pay users reached the one million mark. These users average 100,000 cashless transactions daily in several establishments like restaurants, department stores, supermarkets, and convenience stores. The number as of October 25 is one million users with payments reaching almost US$88 million (100 billion won). From the previous daily average total payments of $705,192 (800 million won), daily average these days is $1.8 million (2 billion won).
Samsung Pay’s success is not just because they’re used in the latest premium flagship phones and there are really a lot of Galaxy S6, S6 edge, S6 Edge+, and Note 5 owners. This mobile payment allows a traditional magnetic security transmission (MST) so it’s easy to use anywhere. It also allows offline payments, cash withdrawals, and the usual online payments.
We hope to hear next how many signed up and are currently using this Samsung Pay here in the US and which carrier has more converts.
VIA: Business Korea
