Samsung Pay Processes Half a Billion Dollars of Transactions
Published on: 23rd Feb 2016
Note -- this news article is more than a year old.
Samsung says that its mobile payments service, Samsung Pay has reached a global milestone about five million registered users processed over 500 million dollars in the first six months, showing a strong adoption rate in South Korea and the USA.
"Since its introduction last year, Samsung Pay has changed the way people pay and use their smartphones," said InJong Rhee, Head of R&D, Software and Services, EVP of Mobile Communications Business at Samsung Electronics. "We've already seen significant consumer adoption and we continue to see great momentum. Our aim is to expand Samsung Pay to even more locations around the world, and our customers should expect to see more features in the year to come."
In 2016, Samsung Pay will start global expansion beginning with China in March, followed by Australia, Brazil, Singapore, Spain and the U.K. later in the year. Additionally, Canada will be added to the new launch roadmap. Samsung Pay is currently available on select Galaxy devices including S6, S6 edge, S6 edge+, Note5 as well as premium and mid-range options such as the 2016 models of both Galaxy A5 and A7.
Extensive Partnership Ecosystem
Samsung Pay started its service in South Korea and the U.S. last year, and now supports eligible credit and debit cards from more than 70 major and regional banks.
In 2016, Samsung Pay will add support for four major payment networks, including American Express, China UnionPay, MasterCard, and Visa.