South Korea was the first market where Samsung launched its mobile payments service. That wasn't surprising, it is Samsung's home market at all. The company's mobile payment service was well received initially and growth doesn't seem to have stalled.
A new report by industry tracker WiseApp reveals that Samsung Pay users in South Korea have doubled in one year. It goes to show that the mobile payments service has not exhausted its ability to bring in new users. It also doesn't hurt that Samsung has gradually been expanding support for Samsung Pay to more devices, including mid-range models.
Samsung Pay in South Korea
According to the data collected by industry tracker WiseApp, Samsung Pay now has 6.44 million monthly users in South Korea. The figure is double compared to the 3.22 million users that Samsung Pay had in South Korea in September last year.
The data is based on the users who have used the Samsung Pay app in South Korea at least once a month while the total number of Android users in South Korea is estimated to be 37 million.
Samsung is one of the leading smartphone brands in the country. So a significant chunk of Samsung's user base in South Korea is now using its mobile payments service at least once a month. A recent survey by the Korea Consumer Agency revealed that Samsung Pay is the most favored mobile payments service in the country.
