Samsung Pay sets sights on UK after South Korea success

Samsung Pay sets sights on UK after South Korea success

Samsung claims its mobile payments service has got off to a successful start, recording $30m worth of transactions in its first month.

The service launched in South Korea one month ago and is widely anticipated to rival Apple Pay, which launched in the US at the end of 2014. Apple’s payment service got off to a resounding success, signing up one million users within its first month.

Samsung will now look to target US and UK markets with its payment service, launching stateside at the end of September, with dates for the UK yet to be announced. The manufacturer was pipped to the post in these markets by Apple pay, which launched across Europe earlier this year.

Samsung, however have voiced confidence in the popularity of its payment service, claiming that the uptake so far has gone beyond expectations.

The manufacturer have been gearing up to bring Samsung Pay to the European market by extending its partnership with MasterCard, to work with banks across the region. Samsung reiterated that the payment service would be a ‘game changer’.

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

‘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.’

 

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