Samsung Pay has Processed to $30 million in Payment For Marketing

Samsung Pay has Processed to $30 million in Payment For Marketing

Samsung Pay has already seen $30 million in accumulated transaction volume within its first month of availability in South Korea, according to Samsung.

The announcement is made just a day before Google’s event in San Francisco where the search giant will no doubt speak about its own Android Pay with its upcoming Nexus devices.

Samsung said it has already processed 1.5 million transactions, having 36% of active users, with 10% of those users using the service on a daily basis.

Notably, for the time being, Samsung Pay is only available on a select few Samsung devices, including the Galaxy Note 5, Galaxy S6 Edge+, Galaxy S6, Galaxy S6 Edge, and the Gear S2 smartwatch when it launches at a later date.

Samsung Pay’s biggest advantage is its wide acceptance among merchants in South Korea with more than 1.5 million total transactions to date.

“Although the details on Samsung Pay usage are constantly being updated, the response we’ve received so far has been beyond our expectations,” said Injong Rhee, executive vice president of Samsung Electronics and global head of Samsung Pay. “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 behaviour and on the lifestyle of our customers.”

Samsung Pay in South Korea also introduced some value-added services such as:

* Payments that support select integrated circuit (IC) readers

* Online payments using a Samsung Card (credit and debit)

* Advanced ATM cash withdrawal transactions using a Woori bank account

The service will launch in the United States on September 28, with United Kingdom, Spain, and China will follow soon after.

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