Samsung Pay passes 100m transactions
25 August 2016 13:18 GMT

As it celebrates its first year in operation, biometrics-backed payment service Samsung Pay has now registered 100 million transactions worldwide, and $1.8bn transaction value in South Korea alone.

In a statement this week, the tech manufacturer noted that Samsung Pay has been used to make around 100 million unique transactions in seven countries,

This includes more than two trillion won (nearly $1.8 billion) in transactions in South Korea alone, of which 25% were online.

“Since its introduction a year ago, Samsung Pay continues to lead mobile payments by providing services that are simple, secure and virtually anywhere," said Injong Rhee, CTO and EVP of Software and Services, Mobile Communications Business at Samsung Electronics.

"Our ambition to reach a world without wallets continues to draw ever closer, and this strong consumer adoption signals a shift in behavior and demonstrates the continued enthusiasm for a safer, smarter and better mobile wallet."

There are over 4 million registered membership cards in the United States and South Korea, and the service supports a total of more than 440 bank issuers.

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