Samsung Pay surpasses 1.3 billion transaction mark

Samsung Pay surpasses 1.3 billion transaction mark

Samsung Electronics is celebrating the third anniversary of the launch of its mobile payment service, which has now surpassed more than 1.3 billion transactions globally.

With the roll out of Samsung Pay into Africa, the consumer electronics group now claims a presence in six continents and 24 markets globally.

“Since we launched Samsung Pay three years ago, we have been dedicated to delivering a mobile wallet platform that is simple, secure and works almost anywhere. We have been expanding its availability and forming strategic partnerships in each market to meet the unique needs of their users,” says DJ Koh, president and CEO of IT & Mobile Communications Division, Samsung Electronics. “And we’re not limiting ourselves to a mobile wallet - by integrating with our other mobile services, consumers will be able to earn Samsung Rewards points, use Bixby for a more seamless payment experience and more.”

The group now claims to have 2000 banking partners onboard offering a range of localised services, including online payments in 15 countries, transit payments in five markets, loyalty and membership cards in 20 territories and ATM transactions in five.

Despite the advances made, the numbers are dwarfed by rival Apple Pay, which claims 4900 bank partners and the processing of over one billion cumulative transactions in the last quarter.

Comments: (1)

A Finextra member
A Finextra member 22 August, 2018, 13:38Be the first to give this comment the thumbs up 0 likes

Do we know the total payment transactions over the same period?