Samsung Pay is the most popular mobile payment service in South Korea, and it continued its dominance in the month of October as well. Samsung Pay usage saw a 58 percent growth in the number of users in October 2018, as compared to the same period last year.
Samsung Pay continues its South Korea dominance
According to a survey by industry tracker WiseApp, Samsung Pay hit an estimate 10.4 million active users in South Korea in October. The number of estimated active users for the same period last year was 6.6 million.
WiseApp conducted a survey on 23,000 South Korean users of Android smartphones. WiseApp didn’t consider transactions made through other operating systems for survey, neither did it consider Naver Pay and Kakao Pay as they do not need a separate application.
Toss distantly followed Samsung Pay with 4.56 million users in October. The platform itself, however, saw a growth of nearly 103 percent in the financial month of October 2018, vis-à-vis October 2017. Toss had 2.25 million estimated active users a year earlier. ISP/Paybooc closely followed Toss with 4.01 million users, while Shinhan PayFAN and Hyundai Card made up the top five with 2.87 million and 2.2 million users, respectively.
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