Samsung Pay turns three, here's how much it has grown over the years

Samsung Pay turns three, here's how much it has grown over the years
Samsung today celebrates the third anniversary of its Samsung Pay payments system, which was launched in South Korea on August 20, 2015. Over the course of the next three years, the service has gradually expanded globally and is currently up and running across six continents ans is supported by more than 2,000 financial institutions across 24 different markets around the world. Today, as a part of its anniversary celebrations, Samsung is announcing that Pay is also now officially supported in South Africa, the latest country to join the roster.

Recently, Samsung Pay achieved another big milestone - over 1.3 billion transactions successfully completed around the globe. That's a huge number that shows Samsung Pay is getting big, mostly thanks to its gradual expansion across the world. If you're wondering why the rollout of the payments service is seemingly taking so slow is because of the numerous hurdles and specified, localized approach that every market requires.

Samsung also says that it always aims for seamless integration within a country's already existing parallel payments services. As you might imagine, all of this takes time and the company can't simply flick a switch and bring the service to just about any country overnight.

To summarize all of its achievements and milestones over the past three years, Samsung also compiled a nifty infographic containing interesting data insights into Samsung Pay's usage. You can explore that one in the gallery right below.

source: Samsung



1. BGChicago

Posts: 226; Member since: Nov 16, 2014

It will stop growing now that they devalued it's rewards 3 times already. 1st they made the reward gift cards 25%+ more expensive ($50 used to be 10000 points) 2nd They slashed number of points per transaction in half 3rd Just recently reward gift cards disappeared completely and all you can buy some sh1tty coupons and sponsor programs like Uber. They can do whatever they want but all 3 above were done without any notice which is not the way to go in NA region.

6. tedkord

Posts: 17456; Member since: Jun 17, 2009

That's still better than competing phone pay systems, which give you nothing. And, it's still the best overall pay by phone tap app out there.

2. Sammy_DEVIL737

Posts: 1529; Member since: Nov 28, 2016

Samsung Pay is the reason why I keep my A5(2016) every time with me. It’s just one of the most convenient way to pay. Just tap on any MST terminal, Enter amount bam and you are done paying. No need to look for support stickers and no doubt whether it will work or not. From malls to small roadside grocery shops Samsung pay works everywhere.

3. Soundjudgment

Posts: 370; Member since: Oct 10, 2016

Wait... you still have Pay Terminals which *require* MST in order to work?? Sheesh, tell those vendor(s) to catch up with the rest of the world already! This isn't 2014 any more.

4. Rampage_Taco

Posts: 1109; Member since: Jan 17, 2017

You do realize people shop at small mom and pop shops that don't have the budget to replace their terminals. And if it's not a money issue, they may not have much reason to switch either if 99% of their customer base still carry a card or cash.

7. tedkord

Posts: 17456; Member since: Jun 17, 2009

There are a lot of pay terminals out there that don't have NFC. I've never been to a Walmart that had them, and they're a multi billion dollar corporation worth hundreds of stores.

10. Sammy_DEVIL737

Posts: 1529; Member since: Nov 28, 2016

I don’t need to say them to catch-up to rest of the world considering I don’t have to care whether it’s MST or NFC terminal as Samsung Pay works everywhere. :)

5. Rampage_Taco

Posts: 1109; Member since: Jan 17, 2017

I use Samsung pay almost daily. Was holding out on getting a new Smartwatch for the Galaxy Watch, but now I guess I can snag a Gear S3 for cheap since they are the only watches to support MST

8. tedkord

Posts: 17456; Member since: Jun 17, 2009

I use it all the time, too. It's faster than the chip. I don't use pay on my Gear S2, so MST doesn't matter to me. I skipped the Gear S3 because it was rumored the S4 would have blood pressure monitoring. I'm disappointed it doesn't.

9. Wolvan

Posts: 16; Member since: Sep 20, 2012

The ability to work on almost any machine that accepts a swipe is very nice (S8 or later), plus its more secure then using the actual credit card since it generates an electronic number instead of using your actual card. (having your CC number stolen is a pain in the ass, we have had it happen twice, once on vacation then once at home). Plus people are always amazed when it works on the swipe machines. The only type I've had issues with is the Square payment device that plugs into a smart phone.

11. damonarena

Posts: 47; Member since: Apr 30, 2018

it works everywhere, any machine unlike apple or android pay which needs special nfc payment terminals, even nfc isnt as safe as card swipe simulation via mst

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