Impacted by Rapid Increase in Online Payment Service Usage

Samsung Pay, which is leading the popularization of mobile payment services, has surpassed 10 trillion won in cumulative domestic payment transactions.

Just two years after launching the service for the first time in August 2015, it recorded 2 trillion won in its first year of launch.

In particular, the volume of online payment service usage, which began in earnest from last year, has been increasing rapidly, accounting for more than 30% of total payment amounts. This is analyzed to be because users only need to register once and do not need to enter their card number every time they make a payment, and can use it safely and conveniently through biometric authentication.

Samsung Electronics continues to expand Samsung Pay support not only to premium smartphones such as Galaxy S and Note, but also to mid-range devices such as Galaxy A and Galaxy J.

Samsung Pay is currently providing commercial services in 18 markets including Korea, the United States, China, Spain, Australia, Singapore, Puerto Rico, Brazil, Russia, Thailand, Malaysia, India, Sweden, United Arab Emirates, Switzerland, Taiwan, Hong Kong, and the United Kingdom. It is collaborating with major banks worldwide as well as American Express, UnionPay, Mastercard, Visa, and Alipay.

In particular, in Russia, monthly active users are increasing rapidly due to the growth of the mobile payment market, and in India due to government currency reform and transition to a cashless society. In March and June 2017, it was selected as the local "best mobile payment service" respectively.

Meanwhile, Samsung Pay has recently provided a feature allowing users to present a Samsung Pay cash receipt mobile card and receive a cash receipt when paying in cash at cash receipt merchants nationwide. It has also added a feature enabling users to check account balances and transfer funds through voice commands on the intelligent interface "Bixby" embedded in Galaxy S8 and Galaxy S8+.