Business

Samsung Pay hits 2 trillion won in South Korea

Since launching in August last year, Samsung Pay has hit 2 trillion won in transactions in its home country of South Korea.

Written by Cho Mu-Hyun, Contributing Writer on Aug. 23, 2016

Samsung Pay has accumulated 2 trillion won in transactions in its home country of South Korea since launching there in August, the company has announced.

It is double the 1 trillion won it hit in May, nine months after launching.

Samsung's mobile payment service has since launched in the US, China, Spain, Australia, Singapore and more recently Brazil ahead of the Olympic Games.

In South Korea and the US, Samsung Pay has registered 4 million membership cards.

In Korea, 25 percent of the transactions were done for online payments, while nearly 11 million cards related to value-added services were registered. Globally, the service has hit 100 million unique transactions in total, the tech giant said.

In May, Samsung signed an MOU with China's AliPay to expand the mobile payment service's reach there.