Samsung Pay Expansion & $1B In Transactions In South Korea

Samsung Pay is one of the mobile payment solutions which is making a significant mark on the industry. As this is one of the most widely accepted mobile payments, it stands to reason that Samsung is very quickly being able to carve out their status as one of the leading mobile payment providers. A momentum Samsung seem happy with and happy to continue taking advantage of. As a result, the company has over the last few weeks been rolling out the service to a number of new countries. A point which Samsung confirmed today in a blog post as further evidence of their keen intention to expand the payment option as quickly as possible.

Samsung today again confirmed that the last few weeks has seen Samsung Pay expand to Spain, which Samsung notes is the first European market to see the payment option arrive. This was along with Samsung Pay also launching in Singapore and in Australia over the last few weeks. Launches which Samsung also note are ‘firsts’ with the Singapore launch being the first in the South East Asian region and Australia the first in the Oceania region. As part of the same announcement, Samsung went on to note that the expansion will not stop there with other areas including the UK, Brazil and Canada all due to get Samsung Pay later this year.

While discussing the expansion of Samsung Pay, Samsung also took the opportunity to note just how well the payment option is doing in the already-established countries. For instance, Samsung notes that in the U.S, Samsung Pay started with support for only four banks in September 2015 and has now grown to be “supported by 300 major and regional banks and credit unions.” As well as including additional features like support for gift cards, and loyalty/membership programs. While in the company’s home country, South Korea, Samsung notes that since Samsung Pay launched, the payment solution has now “processed more than $1 billion in transactions” in South Korea alone. All figures which are not bad when you take into consideration how long Samsung Pay has been available and the early stage of mobile payments in general.

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John Anon

Editor-in-Chief
John has been writing about and reviewing tech products since 2014 after making the transition from writing about and reviewing airlines. With a background in Psychology, John has a particular interest in the science and future of the industry. Besides adopting the Managing Editor role at AH John also covers much of the news surrounding audio and visual tech, including cord-cutting, the state of Pay-TV, and Android TV. Contact him at [email protected]
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