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.
Said DJ Koh, President and CEO of IT & Mobile Communications Division over at Samsung Electronics: “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. 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.”
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
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