The vast majority of Samsung Pay users in South Korea, Samsung's home ground, have switched over to Samsung Wallet, the company has officially announced. Wallet is an upgraded version of its mobile payments service that Samsung launched not too long ago.
Samsung has confirmed that 70% of all Samsung Pay users in South Korea have now switched to Samsung Wallet. Evidently, the additional features that the new service offers have gained traction with users across the country.
Samsung Wallet is very popular among teens and twenties
One of the reasons why Samsung Wallet has become so popular in the country is that it enables users to store their mobile driver's licenses and National Merit Certificates. The digital versions of these documents have the same legal effect as their physical versions, so users don't have to carry hard copies of these important documents with them, they can just show them through Samsung Wallet.
Aside from other features like mobile payments and ATM usages, Samsung Wallet is also capable of storing digital keys and boarding passes. The service is particularly popular among teenagers and people in their twenties as the conversion rate for them is more than 75%.
Samsung has been trying to get more people to switch over, which is why it has also been running a promotion for Samsung Wallet since the beginning of this month. It offers users discounts for popular convenience stores and restaurants that people in this demographic commonly visit. All of these incentives are available through the Samsung Wallet app.
