Samsung Pay leads the South Korean market
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Samsung Pay may have closed last year with losses, but that does not mean its future looks grim. While it still has to gain a significant share in various other markets, Samsung Pay is the most used mobile payment app in South Korea, its home market and the first one where it became available last year in late August.
According to mobile trend and app ranker WiseApp, Samsung Pay has no less than 2.59 million users in South Korea. The next two positions belong to Shinhan (1.5 million) and Hyundai Card (1.23 million). These figures only cover Android smartphone users due to the low popularity of Apple handsets in the country. The same source also reveals that each Samsung Pay customer used the system 41 times in average last month.
Back in February, Samsung Pay had over 5 million active users, reaching the $500 million barrier in transactions processed in its first six months spent on both the US and South Korean markets. In addition to expanding its reach, Samsung Pay has been adding new features recently as well. The last new capabilities gained by this service are bank deposits and withdrawals.