Number of Samsung Pay Users in Korea Breaks One Million Mark

Samsung’s mobile payments service continues to grow in its home country of South Korea, reaching a new milestone of one million active users.

In today’s mobile-driven world, mobile payments solutions have come to play a big role.

Using Apple Pay or Android Pay requires NFC (Near Field Communication) payment terminals and support from retailers.

In the fast growing mobile payments market, Samsung Pay competes against Apple Pay and Google’s Android Pay. The QR-code based system will make it cheaper for merchants to accept payment and will launch in 2016.

Samsung Electronics is also set to add membership card management and transportation function to the service within this year.

As reported by Business Korea, the daily average payment increased from 800 million won (AU$977000) to over 2 billion won (AU$2.44 million) within a short span of time.

Samsung Pay’s success is not just because they’re used in the latest premium flagship phones and there are really a lot of Galaxy S6, S6 edge, S6 Edge+, and Note 5 owners.

According to the report, an increasing number of users are apparently relying on the service to pay for their daily purchases at supermarkets, department stores, restaurants and cafes, but Samsung Pay use for public transport and at cinemas is at a record-high as well.

We hope to hear next how many signed up and are now using this Samsung Pay here in the USA and which carrier has more converts. Samsung Pay will also support Discover cards beginning next year, rounding out the major card networks in the US. That was more than a month ago so we’re assuming that more have been added.