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Samsung Pay is the most favored mobile payment platform in South Korea

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Last updated: September 22nd, 2017 at 09:53 UTC+02:00

Samsung Pay has emerged as the most favored mobile payment solution in South Korea as per a new survey by the Korea Consumer Agency. The mobile payments solution emerged victorious with a score of 3.78 points on a scale of 1 to 5. Around 1,200 consumers participated in this survey. Samsung Pay was launched in the country in August 2015.

Naver Pay and Kakao Pay stood at the second position. Naver Pay is operated by the country’s top Internet portal and it received a score of 3.76. Kakao Pay is operated by South Korea’s dominant instant messaging app KakaoTalk and received a score of 3.76 out of 5. Payco, which is operated by NHN Entertainment Corp., ranked fourth in the survey with a score of 3.70 points.

Most of the people who voted in the survey found the ease of use factor as the most important feature of mobile payment solutions. A majority of users (around 88%) said in the survey that they use these mobile payment solutions for payment of bills, while 10.4% users said that they use them for money transfers. Only 1.4 percent people said that they use these solutions for payment of utility bills.

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