Samsung Pay Now Boasts Almost 7 Million Users In South Korea

Samsung Pay now boasts almost seven million users in the company's home country of South Korea, according to data collected by app analytics firm WiseApp. As of last month, the tech giant's mobile payments solution amassed approximately 6.94 million users in the Far Eastern country, with the figure denoting those who utilized the app to make a purchase at least once over the course of February. The new findings suggest that the popularity of Samsung's Android service grew by a factor of seven over the last two and a half years but appears to have slowed down in recent months, with the same source reporting the app had 6.44 million Korean users five months ago, with its annual growth rate in the country reaching 100-percent in 2017.

Despite losing some momentum since the final quarter of the last year, Samsung Pay is still adding approximately 100,000 users in South Korea on a monthly basis. WiseApp's margin of error should be relatively small, with the study being based on a representative sample of 23,000 Korean consumers. The market analytics company claims Samsung Pay is primarily used during lunch hours in the country, adding that people over 30 account for more than half of its user base, with every fifth user being in their 20s. The overall popularity is expected to continue rising going forward as Samsung Pay moves toward its third anniversary, with the platform being originally introduced in late August of 2015. The app's Google Play Store listing indicates it's been installed over 50 million times on a global level, though the figure itself is skewed by the fact that Samsung Pay is pre-installed on most contemporary Galaxy-branded smartphones in supported countries.

The Seoul-based handset maker appears to be relatively pleased with the momentum its service has been amassing in recent times, with the company halving its reward points meant to incentivize U.S. consumers to use the app last month. The global performance of Samsung Pay remains an unknown as the firm doesn't practice disclosing its usage figures.

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Dominik Bosnjak

Head Editor
Dominik started at AndroidHeadlines in 2016 and is the Head Editor of the site today. He’s approaching his first full decade in the media industry, with his background being primarily in technology, gaming, and entertainment. These days, his focus is more on the political side of the tech game, as well as data privacy issues, with him looking at both of those through the prism of Android. Contact him at [email protected]