Home / News / Mobile Phone News / Samsung Pay off to strong start

Samsung Pay off to strong start

by

Samsung Pay

Samsung has announced that its mobile payment system, Samsung Pay, has been a big hit in its home territory.

The consumer electronics giant finally rolled out its Apple Pay rival in South Korea a month ago.

Since then, the company claims that more than $30 million (£19.6 million) has been spent in Samsung Pay transactions. This has been achieved through 1.5 million separate Samsung Pay purchases.

While it's hard to measure precisely how good those figures are (Apple is famously reticent with its own), Samsung claims that "the response we’ve received so far has been beyond our expectations." Which suggests they're pretty good.

It might interest you to learn that 60 percent of those initial Samsung Pay transactions were executed with the new(ish) Samsung Galaxy Note 5. Perhaps some of those Samsung Galaxy S6 owners have forgotten that their phone came with the promise of Samsung Pay support when it launched back in April.

Related: Apple Pay vs Samsung Pay

Of course, the true test for Samsung Pay will be when it expands beyond its traditional South Korean stronghold, where Samsung is an institution, and into major markets like the US, Europe, and China.

Samsung Pay is set to hit the US on September 28, while the UK, Spain and China are simply listed as coming soon.

The one major advantage Samsung Pay has over Apple Pay is Magnetic Secure Transmission technology, which enables it to work with traditional card readers as well as modern NFC terminals.

See how Samsung Pay's biggest rival performed on its UK debut:

comments powered by Disqus