Samsung Pay surpasses a million users in South Korea

samsungpay-korea-milestone

Samsung Pay has been off to a great start, at least in Samsung’s home market. The company has confirmed today that their total number of users in South Korea have surpassed the million mark, in just over 2 months after the service started on August 20.

Till now, Samsung Pay has processed payments over 100 billion won with average payments reaching up to 2 billion won.

Samsung Pay is different than other mobile payment solutions as in addition to NFC, it also supports transacting through MST (Magnetic Secure Transmission). The advantage of Samsung Pay with MST is that the service can be used with existing point-of-sale terminals without the store having to invest in anything extra.