Samsung has announced that there are more than 5 million users who have signed up for the Samsung Pay, the mobile payment service from Samsung that is an answer to the Apple Pay. But one thing to note is that not everyone who signs up for the service will continue to use it regularly. Many people sign up for a service and forget about it after some time.
Between those 5 million users, there were transactions worth $500 million over the six months’ period. Those users are either from south Korea or the united states where the Samsung Pay is currently available.
Samsung is delighted with this growth and to keep the momentum going, it is bringing the Samsung pay services to many other countries such as china, Canada, Australia, Spain, Singapore, UK. Not all the regions will get the Samsung Pay simultaneously but they should have this service before the end of the second quarter of this year.
“We leverage our unique technology and capabilities to provide our customers around the world with seamless, differentiated experiences, giving them more flexibility and choice for how to pay. As part of that strategy, we are excited to work with our partners on the expansion of Samsung Pay for our customers worldwide, “said a representative.
Several banks have started supporting the Samsung pay for their credit and debit card users.
This mobile payment service works with the existing credit card terminals and does not need any special NFC terminals to make a secure transaction. For this, it uses a technology called as Magnetic Secure Transmission (MST) to mimic your card and authorize the payment.
Samsung pay is only available in few phones such as the Galaxy S6, S6 edge, S6 edge+, S7, S7 edge and the Note 5. Future mid ranged phones such as the Galaxy A5, A7 and A9 will support the payment service.
