SEOUL, Oct. 26 (Korea Bizwire) – Samsung Electronics has announced that its Samsung Pay mobile payment system now has more than one million subscribers, only two months after its launch.
According to Samsung, the average number of payments per day has risen to around 100,000. Most of the payments have been made at typical daily purchase locations such as convenience stores, department stores, large retailers and restaurants.
The accumulated amount of money paid through the system was calculated to be over 100 billion won. The daily average of the total amount of payments grew from around 700 million won to over two billion won.
Samsung Pay features Magnetic Security Transfer (MST) technology, and payments can be made simply by putting the phone in front of a point of sale device at stores. In addition, offline payments, online payment services from Samsung card, and cash withdrawal from Woori bank are possible.
Samsung is also planning to add transportation card features by the end of the year.
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