Samsung Pay has just turned one year old. Has it been that quick? It seems like only yesterday when we started to anticipate for the new mobile payment service after learning that it would debut on the Galaxy S6 and S6 edge. The Samsung Wallet soon ceased operations and was immediately replaced by Samsung Pay which launched a trial service in South Korea July last year. Soon, we began listing what countries and regions would receive it from South Korea to Europe to the United States, China, Singapore, Spain, Australia, Puerto Rico, and Brazil.
We’ve featured this mobile payment service a number of times already. We once said that it satisfies more consumers than Apple Pay according to a study. The past year, Samsung has teamed up with dozens to hundreds of financial institutions and banking partners in different countries to provide the service to more mobile consumers.
You can say it’s limited because not all Samsung Galaxy phones support it. But even if with such limits, the service has been successful. On its first month alone in South Korea, Samsung Pay was reportedly used on 1.5 million total transactions. Over one year later, the company has hit nearly 100 million transactions across seven countries where the mobile payment method is accepted.
That’s only the number of transactions so imagine how much money were spent thru Samsung Pay. We’ve lost count of how many bank partners Samsung already has but we’re expecting more will join the club and in more countries.
Samsung Pay is more than just a payment service. Samsung intended it to be simple, secure, and easily available almost anywhere and in more Galaxy models. For now, it’s only supported on the latest premium phablets from last year’s S6, S6 edge, S6 edge+, and Note 5 to this year’s Galaxy Note 7, S7 edge, and S7. Some mid-range phones also support Samsung Pay like the 2016 versions of Galaxy A9, A7, and A5.
Samsung said that the Samsung Pay mobile payment system has more than four million Membership Cards registered from all over the world. Those 440 merchants and banking partners will only continue to grow as Samsung vows to bring the service to more locations.
The South Korean tech giant published an interesting infographic of how Samsung is making a difference in the tech world. Here are some data on Samsung Pay over the past year:
• Now Most Widely Accepted in Spain, China, South Korea, Singapore, Australia, USA, Puerto Rico, Brazil
• 100 million accumulated transactions
• 4 million registered memerships cards (US and South Korea only)
• 440 bank partners
• 2 trillion KRW (accumulated transaction volume in Korea)
• 25% payment made online (Korea)
• Benefits: Online Payment, Transit, Membership, ATM, Gift Card
Click HERE for larger view.
