Monday 24 October 2016 | RSS


    Samsung Pay hits 5m users and is set for global expansion in 2016

    Samsung Pay

    WORLD CLASS: Samsung Pay will continue to expand across the globe during 2016

    Samsung Pay now has approximately five million users in South Korea and the US who have processed more than $500m through the mobile payment service in the first six months since its launch. The service is due to be rolled out in China next month, Samsung has revealed, followed by a global expansion to Australia, Brazil, Singapore, Spain, the UK and Canada later in the year.

    Support for transit passes, coupons and membership cards is also set to be added to the service alongside current support for eligible credit and debit cards from more than 70 major and regional banks. Gift cards were added through a partnership with Blackhawk Network in October 2015.

    “In addition to mobile payment, Samsung is partnering with BC Card, Hana Card, KB Kookmin Card, Lotte Card, NH Nonghyup Card and Samsung Card to provide a quick and easy online payment service in South Korea,” the company says.

    “By adding this new service, consumers will be able to use the Samsung Pay fingerprint authentication to pay online. In 2016, Samsung Pay will support four major payment networks, including American Express, China UnionPay, MasterCard and Visa.”

    Supporting banks and partners for the global expansion of Samsung Pay include:

    • Abanca, American Express, Banco do Brasil, Banco Sabadell, Bradesco, Brasil Pre-Pagos, Caixa, CaixaBank, China Construction Bank, China Everbright Bank, China Guangfa Bank, China Minsheng Banking Corp, DBS, El Corte Inglés, ImaginBank, Industrial and Commercial Bank of China, Itaú Unibanco, MBNA, Nationwide Building Society, Nu Bank, OCBC Bank, Ping An Bank, Porto Seguro, Santander, Standard Chartered Bank and Transport for London (TfL).

    New frontiers

    The mobile payment service will also be compatible with the new Samsung Galaxy S7 and S7 Edge flagship devices, unveiled at the Samsung Unpacked event at Mobile World Congress in Barcelona.

    “With Samsung Pay and S7/S7 Edge, we are forging new frontiers with the mobile wallet that will transform how you choose to pay almost any place you can tap and swipe a card,” DJ Koh, global president of the mobile communications division at Samsung, told attendees.

    “Since its introduction last year, Samsung Pay has changed the way people pay and use their smartphones,” says Samsung’s Injong Rhee. “We’ve already seen significant consumer adoption and we continue to see great momentum.

    “Our aim is to expand Samsung Pay to even more locations around the world and our customers should expect to see more features in the year to come.”

    Samsung Pay was launched in Korea in August 2015 and in the US in September 2015. It’s launch in China in partnership with China UnionPay was announced in December.

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