Pay

Samsung Pay has been used to process over $850 million worth of transactions in South Korea

Within its first month of being active in South Korea, it was revealed that Samsung Pay had been used to process over $30 million in accumulated transaction volume. Now, eight months later, Samsung has announced that its mobile payment platform has processed over $850 million worth of sales in the region alone. You may recall that the company added support for online payments earlier this year, which has proved to be incredibly successful, accounting for over $168 million of the total transactions.

Back in February, the firm announced that the service had pushed through over $500 million in global payments. Unfortunately, it failed to detail the specific regions that were spending the most money. However, it has since then launched in both China and the US, so it’s more than likely that the figure has climbed considerably, which is good news for Samsung as it means that it may finally turn a profit from the platform after making a staggering loss of $16.8 million in 2015.

Join the Discussion