Samsung Pay nearing 100 million transactions

Yesterday, Samsung quietly celebrated the first anniversary of its digital wallet platform. Samsung Pay arrived on the market one year later than Apple Pay but, until now, its growth rate managed to match the performance of its competitor during its early days. 

According to Injong Rhee, CTO and EVP of Software and Services, Mobile Communications Business at Samsung Electronics, "Since its introduction a year ago, Samsung Pay continues to lead mobile payments by providing services that are simple, secure and virtually anywhere." Until now, the system processed almost 100 million transactions in the seven markets where it is available.

After one year on the market, Samsung Pay has more than 4 million registered membership cards in the United States and South Korea, currently supporting over 440 bank issuers. First supported by the high-end offerings of the South Korean giant, Samsung Pay is now available on mid-range devices like the 2016 models of the Galaxy A5, A7, and A9 as well.