Samsung Pay’s first month in S. Korea: ₩35B in transactions

If you like money, numbers, technology and aren’t Donald Trump (or even if you’re Donald Trump), consider Samsung Pay. It’s been 34 days since the Samsung-exclusive mobile payments system was put out into the Korean market and while we’re about to take a peek at numbers from just four devices in a highly-adaptive test pool, the numbers still light a lantern for Samsung as it continues to struggle financially.

More than ₩35 billion ($30 million) worth of purchases were made over an estimated 1.5 million transactions in the first month of operations. About 900,000 of them (that’s 60 percent) were made with Galaxy Note 5s. This includes transactions made at the 1,000 Woori Bank ATMs in the country.

Samsung Electronics Vice President In-Jong Rhee said that the numbers and reactions “so far [have] been far beyond our expectations.”

We’re just five days away from a US launch and there’s still the promise of the system’s spread to Britain, Spain and China.

Source: The Korea Herald

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.