Samsung Pay Accelerates Growth with Three New Markets in Three Weeks
Service launches in Spain, Singapore and Australia amidst strong momentum and an uptick in consumer adoption
Samsung Electronics Co. Ltd., announced that Samsung Pay, the most widely accepted mobile payment system, successfully launched in three new countries, across three continents in three weeks, including:
- Spain, the first market to launch in Europe;
- Singapore, the first within the South East Asian region; and
- Australia, the first market to launch within the Oceania region.;
The launch marks a significant milestone in the service’s global expansion, with a number of additional markets, including Brazil, Canada and the U.K., planned this year.
“Samsung Pay’s momentum is bringing us closer than ever to a world without wallets,” said Injong Rhee, CTO and EVP of Software and Services, Mobile Communications Business at Samsung Electronics. “Consumers are seeking convenience, security and ease of use in a mobile payment solution, and these latest launches show how Samsung Pay is providing an even faster and easier experience to a broader base of global users.”
Growing Ecosystem and Adoption
Samsung Pay is fueling strong consumer adoption and a growing partner ecosystem. The service has processed more than $1 billion in transactions in South Korea since its launch less than a year ago, demonstrating the increased adoption and showcasing its position as a preferred service for making secure, convenient payments.*
Also since launching in the U.S. in September 2015 with four banks and support for credit, debit and private label credit card payments, Samsung Pay is now supported by 300 major and regional banks and credit unions. Value-added services such as gift cards, and membership and loyalty features have been added as well with more than 110 merchants joining Samsung Pay’s Gift Card program and more than 140 retailers participating in its membership and loyalty cards program.
More Than a Payment Service
Building on its extensive ecosystem, Samsung recently announced partnerships with both Citi for Asia Pacific and Ant Financial Services Group, parent company of Alipay, in China that further bolster Samsung Pay’s compatibility with payment networks and banks, and provide choice and flexibility to its users.
Samsung Pay, a secure and easy-to-use mobile payment service, can be used to make purchases almost anywhere cards are accepted.
- SIMPLE : To make a payment on Samsung Pay, users simply swipe up on their eligible Galaxy smartphone, scan their fingerprint and pay.
- SECURE : Samsung Pay uses three levels of security to enable secure payments: fingerprint authentication, tokenization and Samsung KNOX, Samsung’s defense-grade mobile security platform.
- ALMOST ANYWHERE : ** Samsung Pay provides wider acceptance by leveraging both Magnetic Secure Transmission (MST) and Near Field Communication (NFC) technology, which allow users to pay almost anywhere a card can be swiped or tapped.
Additionally, Samsung Pay continues to evolve and expand its services beyond payments, now offering U.S. users gift card, membership and loyalty card support. This gives them easy and direct access to receive savings, rewards and other applicable offers all from their Galaxy smartphone. Users in other global markets can soon expect to see additional value-added services that enable them to make more than just payments in their respective regions.
Samsung Pay is currently available on select Galaxy devices including the new Galaxy S7 and S7 edge, S6 edge+, Note5 as well as premium and mid-range options like the 2016 models of the Galaxy A5, A7 and A9.***
*Samsung Pay launched in August 2015 in South Korea and in September 2015 in the U.S. market.
**Availability almost anywhere is based on compatibility of Samsung Pay on MST and/or NFC payment terminals, with some supported for use only after software upgrades. Samsung Pay is exclusive to select Samsung Galaxy smartphones, and available across all participating payment networks, banks, and merchants.
***Availability may vary by country and region.
About Samsung Pay
Samsung Pay, a mobile payment service from Samsung Electronics, is simple, safe and works almost anywhere you can swipe or tap your card. Combining NFC with Samsung’s proprietary MST technologies, Samsung Pay provides consumers a way to pay almost anywhere you can swipe or tap a card at millions of merchant locations.* Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience. Samsung Pay is compatible with select cards and Samsung devices, and leading wireless providers. www.samsung.com/pay. to learn more.
*Some card reader terminals may require software updates to be compatible with Samsung Pay.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. inspires the world and shapes the future with transformative ideas and technologies that redefine the worlds of TVs, smartphones, wearable devices, tablets, cameras, digital appliances, printers, medical equipment, network systems, and semiconductor and LED solutions. To discover more, please visit the Samsung Newsroom at news.samsung.com.
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