Samsung Pay sees $30 million in accumulated transaction volume in its first month available in South Korea

Samsung revealed for its first month of availability in South Korea, Samsung Pay has already seen $30 million in accumulated transaction volume. Those are some massive numbers when you consider that paying via your smartphone hasn’t seen much popularity.

Samsung Pay is set to see some even bigger numbers in the next month, as the service will launch in the United States on September 28, just a day before Google’s event in San Francisco where the search giant will no doubt speak about Android Pay with its upcoming Nexus devices. Availability in the United Kingdom, Spain, and China will follow soon after the US launch.

Samsung said the company has already processed a whopping 1.5 million transactions, and Samsung Pay already has 36% of active users, with 10% of those users using the service on a daily basis.

Keep in mind that, for the time being, Samsung Pay is only available on a select few Samsung devices, including the Galaxy Note 5, Galaxy S6 Edge+, Galaxy S6, Galaxy S6 Edge, and the Gear S2 smartwatch when it launches at a later date.

Anyone excited for Samsung Pay?

SAMSUNG ANNOUNCES A SUCCESSFUL PAYMENT LAUNCH IN SOUTH KOREA WITH $30 MILLION IN ACCUMULATED TRANSACTION VOLUME IN FIRST MONTH

London, UK – 23rd September, 2015 – Today, Samsung announced that Samsung Pay is off to a successful start in South Korea with more than $30 million in accumulated transaction volume one month since it first launched. Samsung Pay’s biggest advantage is its wide acceptance among merchants in South Korea with more than 1.5 million total transactions to date. Usage of the mobile payment service has surged, recording approximately 36 percent active users in its first month with about 10 percent using Samsung Pay daily.

“Although the details on Samsung Pay usage are constantly being updated, the response we’ve received so far has been beyond our expectations,” said Injong Rhee, executive vice president of Samsung Electronics and global head of Samsung Pay. “We knew Samsung Pay would be a game-changer in the mobile payments industry and now with the user data, we are seeing the greater impact it is having on consumer behaviour and on the lifestyle of our customers.”

Samsung Pay in South Korea also introduced several value-added services including:

• Payments that support select integrated circuit (IC) readers
• Online payments using a Samsung Card (credit and debit)
• Advanced ATM cash withdrawal transactions using a Woori bank account
• Transportation services and loyalty card memberships coming soon…

Samsung Pay is scheduled to launch in the United States on the 28th September, with plans to bring the service to the U.K., Spain and China soon. Samsung Pay is currently available on the Galaxy S6, S6 edge, S6 edge+ and Note 5 devices, and it is the first payment solution that is simple, secure and accepted almost anywhere you can swipe or tap a card. Samsung Pay will also support NFC technology on Samsung Gear S2 in select countries after the device launches.

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