$30 million spent on Samsung Pay in first month

$30 million spent on Samsung Pay in first month

Over $30 million has been spent using Samsung Pay in the first month since its launch in South Korea.

Figures released by Samsung show the new mobile payments service getting off to a strong start, recording more than 1.5 million transactions - 60% of them on the Galaxy Note5 device.

The consumer electronics giant says usage of the mobile payment service has surged, recording approximately 36% active users in its first month with about 10% using Samsung Pay daily.

Injong Rhee, executive vice president of Samsung Electronics and global head of Samsung Pay, says the response to the launch has exceeded expectations: “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 behavior and on the lifestyle of our customers.”

Samsung Pay is scheduled to launch in the United States on 28 September, with plans to bring the service to the UK, Spain and China in the near future.

Mobile payments in the UK also appear to be piquing consumer curiosity, as figures from eDigitalResearch indicate a positive response to the roll out of Apple Pay, with 40% of iPhone owners using the service to pay for goods and services at the physical checkout since launch.

However, whilst satisfaction with Apple Pay is currently high, three-in-four of the 2000 consumers surveyed said they have not seen any Apple Pay points or symbols, and 46% say they do not understand how Apple Pay works.

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