Samsung Pay celebrates one year with a whopping 100 million transactions processed

By Christian de Looper August 24, 2016

bixby samsung ai assistant pay — Image used with permission by copyright holder

It looks like Samsung Pay can hold its own against the likes of Apple Pay and Android Pay. Samsung recently announced that only one year after the launch of its mobile payment service, it has handled a hefty 100 million transactions.

Not only is Samsung Pay being used a lot, but it’s being used in a lot of places too — Samsung Pay is being used in a total of seven different countries, and the company is prepping for a major expansion of the service later this month.

Of course, Samsung Pay doesn’t come close to the number of payments handled by Apple Pay, which accounts for roughly 75 percent of mobile payments in the U.S. Still, Apple Pay had almost a year head start on its Android rivals, Samsung Pay and Android Pay.

So just how much money is represented by 100 million transactions? According to Samsung, a whopping 2 trillion South Korean won has been handled by the service, which equates to around $1.78 billion. That’s no small feat.

“Since its introduction a year ago, Samsung Pay continues to lead mobile payments by providing services that are simple, secure and virtually anywhere,” says Injong Rhee, CTO and EVP of Software and Services for the Mobile Communications Business at Samsung, in a blog post. “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.”

Of course, Samsung Pay still has work to do. The payment service is, as mentioned, only available in seven countries, though expansion is expected. Not only that, but the service will likely continue to expand until all banks are included in the service, so as many people as possible can use it.

For more information on Samsung Pay, how to use it, and what it can do, check out our Samsung Pay guide.

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Christian’s interest in technology began as a child in Australia, when he stumbled upon a computer at a garage sale that he…

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