Samsung Pay Marks One Year Anniversary with Nearly 100 Million Transactions
SEOUL, Korea – August 23, 2016 – Samsung Electronics Co. Ltd., today celebrates the one year anniversary of Samsung Pay, the most widely accepted mobile payment system, with about 100 million unique transactions in seven countries to date.
“Since its introduction a year ago, Samsung Pay continues to lead mobile payments by providing services that are simple, secure and virtually anywhere,” said Injong Rhee, CTO and EVP of Software and Services, Mobile Communications Business at Samsung Electronics. “Our ambition to reach a world without wallets continues to draw ever closer, and this strong consumer adoption signals a shift in behavior and demonstrates the continued enthusiasm for a safer, smarter and better mobile wallet.”
Global Market and Partnership Ecosystem
Samsung Pay pushes to grow and provide enhanced services, making it a holistic digital wallet extending beyond just credit or debit cards. Users can add membership cards, gift cards and redeem coupons, and today there are more than 4 million registered membership cards in the United States and South Korea, providing more convenient and flexible payment experiences in users’ everyday lives.* Samsung Pay also continues to add banking and merchant partners across the globe, with more than 440 bank issuers currently supported by the service.**
Across Korea specifically, the market has processed more than 2 trillion won in transactions with more than 25 percent of the transactions made online. Nearly 11 million cards related to value-added services, including membership, ATM and transit cards, have been registered, demonstrating the clear shift in consumer behavior and benefits Samsung Pay brings to users in Korea.
More Than a Payment Service
Samsung Pay, a secure and easy-to-use mobile payment service, can be used to make purchases nearly everywhere cards are accepted.
- SIMPLE: To make a payment on Samsung Pay, users can simply swipe up on their eligible Galaxy smartphone, scan their fingerprint and pay.
- SECURE: Samsung Pay uses three levels of security to enable secure payments: fingerprint or iris-scanning authentication, tokenization and Samsung Knox, Samsung’s defense-grade mobile security platform.
- ALMOST ANYWHERE*: Samsung Pay is compatible with the majority of existing and new terminals, allowing users to pay almost anywhere you can swipe or tap your card.
Samsung Pay is currently available on select Galaxy devices including the new Galaxy Note7, Galaxy S7 and S7 edge, S6 edge+, Note5 as well as premium and mid-range options like the 2016 models of the Galaxy A5, A7 and A9.*
*Availability may vary by each region and market condition.
**Visit www.samsung.com/pay for the list of partners that support Samsung Pay.
About Samsung Pay
Samsung Pay, a mobile payment service from Samsung Electronics, is simple, safe and available almost anywhere you can swipe or tap your card. Combining NFC with Samsung’s proprietary MST technologies, Samsung Pay provides consumers a way to pay almost anywhere you can swipe or tap a card at millions of merchant locations. Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, cameras, digital appliances, printers, medical equipment, network systems, and semiconductor and LED solutions. For the latest news, please visit the Samsung Newsroom at news.samsung.com.