Samsung Pay Processed $30 Million In Transactions During Its First Month Alone

It’s not like Samsung Pay had a clear playing field when it arrived, there are already multiple mobile payment solutions out there that allow people to use technologies like NFC in their smartphones to effortlessly make payments. Samsung Pay brought the same functionality to the company’s high-end devices and despite the fact that it’s only available in South Korea right now the service has processed over $30 million in transactions during its first month alone.

Samsung announced the figure today, claiming that one of the biggest reasons why its payment service is so popular among users is the fact that it readily works with existing payment terminals at almost all merchants across the launch market.

This certainly gives Samsung Pay a leg up over the competition, some of which require merchants to first acquire costly terminals that support that particular payment system.

Samsung also revealed that there are approximately 36 percent active users in Samsung Pay’s first month and out of those some 10 percent were using the service every single day.

These are just figures from one launch market. On September 28 Samsung Pay will go live in the United States where millions of people will be able to use it if they own a Galaxy S6, Galaxy S6 Edge, Galaxy Note S6 Edge Plus and the Galaxy Note 5. It will also be supported for the Gear S2 smartwatch when it arrives next month.

Adnan Farooqui
Categories: General
Tags: Samsung, Samsung Pay