Samsung Pay's first month brings in $30 million in accumulated transaction volume

About a month ago Samsung Pay was launched in South Korea, the service has seen great interest from locals and now the company has announced that Samsung Pay brought in $30 million in accumulated transaction volume after just one month since launch. Keep in mind the fact that till now Samsung Pay has only been live in South Korea, it's scheduled to go live in the United States later this month.

The company points out that Samsung Pay's biggest advantage is that it's widely accepted among merchants in South Korea which is why it's not surprising to see that over 1.5 million total transactions were made in just the first month. The service saw approximately 36% active users during this time with about 10% of them using Samsung Pay on a daily basis. Samsung Pay now allows users in South Korea to make online payments using a Samsung Card credit and debit card, enables payments that support integrated circuit reads and ATM cash withdrawals using a Woori bank account with loyalty card memberships and transportation services scheduled to arrive soon. With a global expansion on the cards for later this year Samsung Pay's next market is the United States where it will go live on September 28.

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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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