Mobile Payments

Samsung Pay Reaches 100 Million Unique Transactions

Samsung Electronics announced on Wednesday (Aug. 24) that, on its one-year anniversary of Samsung Pay, it has had around 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 for Samsung’s mobile communications business, in a press release. “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.”

According to the company, Samsung Pay is aiming to grow and provide enhanced services, making it a holistic digital wallet extending beyond just credit or debit cards. With Samsung Pay, users can add membership cards and gift cards and redeem coupons. The company also said that, as of 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.

Samsung Pay has been in growth mode so far this year, announcing in June it has officially launched in Spain, bringing the mobile wallet into its first European country.

Samsung Pay is the first mobile payment service of its kind to be launched in Spain, giving it a head start in the market over Apple Pay and Android Pay.

“Our goal with Samsung Pay is to drive and lead innovation in mobile commerce, giving consumers a safer, smarter and better mobile wallet,” Victor Kim, global director of Samsung Pay, explained in a press release at the time. “Samsung operates an open model of partnerships and collaboration to deliver the best possible customer experience. With Samsung Pay, we’re confident that we’re providing Spanish customers with the mobile payments service that they’re looking for.”

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