Samsung Pay has quickly become one of the most popular mobile payments services in the market and with good reason. Its support for both MST and NFC technologies enables customers to use Samsung Pay at almost all merchants where they can pay using a credit or debit card. The service has been doing particularly well in Samsung's home country of South Korea. According to a new report, the number of people using Samsung Pay monthly has nearly hit 7 million.
Samsung Pay users in South Korea
Samsung Pay was first launched in South Korea and it was very well received. The mobile payments service has grown considerably, its user base doubled in one year after launch in Samsung's home market.
Industry tracker WiseApp reports that Samsung Pay's monthly users in South Korea have reached almost 7 million. Its data shows that 6.94 million users with Samsung's Android smartphones used its mobile payments service at least once a month. The number has steadily increased over the past few months and significantly compared to a year earlier when it stood at 4.47 million.
The report adds that Samsung Pay was most frequently used during lunch times with people in their 30s and 40s accounting for 28 percent and 27 percent of the usage respectively. Users in their 20s accounted for around 20 percent of the usage, this suggests that usage is almost equally distributed among different demographics.
Samsung continues to launch its mobile payments service in more markets across the globe, it was launched in Italy just last week. Samsung Pay is now one of the most widely accepted payment solutions in the world that's available in 21 markets.