Samsung Pay is one-year old today with nearly 100 million transactions processed

It has been a full year since Samsung Pay was launched and it still happens to be the most widely accepted mobile payment service in all of the markets that it's available in right now. The company today revealed that Samsung Pay has processed nearly 100 million transactions in its first year alone which goes to show that the future is bright for this mobile payments service.

“Our ambition to reach a world without wallets continues to draw ever closer, and this strong consumer adoption signals a shift in behavior 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 at Samsung Electronics.

On its home turf in Korea, Samsung Pay has processed over 2 trillion won in transactions with over 25 percent of them being made online. Almost 11 million cards including loyalty, transit, ATM and gift cards have been registered by Samsung Pay users in the country.

Users can also add membership cards, gift cards and redeem coupons in select markets. Samsung revealed today that so far more than 4 million membership cards have been registered in the United States and South Korea. It supports more than 440 bank issues in all of the countries Samsung Pay is available in right now.

Samsung has also published an infographic which details some of the achievements that Samsung Pay has made in its first year.

Adnan Farooqui - Executive Editor

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First Samsung device: SGH-E900

Adnan Farooqui is a long-term writer at SamMobile. Based in Pakistan, his interests include technology, finance, Swiss watches and Formula 1. His tendency to write long posts betrays his inclination to being a man of few words.

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