8/24/2016 3:25:04 PM
Samsung Pay hits 100m mobile transactions a year after launch
Samsung Pay has hit 100m mobile transactions one year after the service launched.
Samsung attributed this uptake across seven countries to a shift in consumer behaviour towards mobile payments. It comes one year after the much anticipated payment service launched in South Korea, reporting $30m worth of transactions within the first month.
Samsung Pay also went head to head with Apple Pay, which hit the UK in 2015. Since then a number of challengers have stepped forward to try and compete with the two, most notably Google with Android Pay.
For many entering this market, consumer adoption has been a major stumbling block but Samsung has claimed that this is now changing.
‘Our ambition to reach a world without wallets continues to draw ever closer, and this strong consumer adoption signals a shift in behaviour and demonstrates the continued enthusiasm for a safer, smarter and better mobile wallet,’ said Injong Rhee, CTO and EVP of Software and Services, Mobile Communications Business.