Samsung Electronics Co., Ltd. today celebrated the third anniversary of its mobile payment platform, Samsung Pay. Originally launched in South Korea on August 20, 2015, Samsung Pay has experienced significant global growth and is now available in six continents1 and 24 markets, including the latest market, South Africa.
Thanks to the support and partnership of thousands of banks and countless network, merchant and service providers across the globe, Samsung recently passed more than 1.3 billion transactions globally.
“Since we launched Samsung Pay three years ago, we have been dedicated to delivering a mobile wallet platform that is simple, secure and works almost anywhere. We have been expanding its availability and forming strategic partnerships in each market to meet the unique needs of their users,” said DJ Koh, President and CEO of IT & Mobile Communications Division, Samsung Electronics. “And we’re not limiting ourselves to a mobile wallet – by integrating with our other mobile services, consumers will be able to earn Samsung Rewards points, use Bixby for a more seamless payment experience and more.”
Samsung’s model of open collaboration extends into the broader payments industry through partnerships with major financial institutions, including Alipay (China), WeChat Pay (China), BHIM UPI (India), PAYCO (South Korea), Chase Pay (U.S.), PayPal (U.S.), and NAPAS (Vietnam). By partnering with these financial leaders, Samsung Pay provides consumers with a more functional mobile payment platform. Additionally, with PayPal, users can now pay offline, and soon online via Samsung Pay. Other partnerships, such as those with Chase Pay (U.S.) and PAYCO (South Korea) use Samsung’s MST technology, giving customers even greater flexibility in how they make payments.