SEOUL, Aug. 24 (Korea Bizwire) – Samsung Electronics Co.’s mobile-payment service, Samsung Pay, has hit 2 trillion won (US$1.8 billion) in accumulated transaction volume in South Korea, the company said Wednesday.
The record came about one year after Samsung launched the mobile-payment service at home.
Of the accumulated transaction volume, the value of fingerprint-identification mobile payments, which started this year, stood at about 500 billion won, Samsung said.
Samsung is expanding the mobile-payment service globally.
The company has launched Samsung Pay in the United States, China, Spain, Australia, Singapore and Brazil.
Including South Korea, Samsung has processed about 100 million mobile-payment transactions globally, the company said.
Samsung Pay has forged partnerships with some 440 banks worldwide and major payment networks such as American Express and China UnionPay, the company said.