New Delhi: In August 2015, Samsung launched a service named Samsung Pay, which was first introduced in South Korea. This service was launched by Samsung, providing users with a digital wallet solution without any money, with just an application, by which users can pay their bills using their device. After some years, Samsung replaced the name with Samsung Wallet, which combines Samsung Pay, as the service reached its 10th anniversary in the country. The latest figures reveal that almost 19 million people use the Samsung Wallet for their digital payments in South Korea.
Samsung Electronics has revealed that after a decade, more than 18.6 million users in South Korea are using this service. It has seen a remarkable growth since the launch, when the local users were estimated to be at 1.6 million in the first year after the launch. The latest numbers highlight that a third of all users in South Korea use the Samsung wallet for their transactions, and the value of transactions processed through the service crossed $63.6 billion in 2024, showcasing a sustained upward trend over the past few years.
The company offers Samsung Wallet in 60 countries across the globe, including in important markets like the United States, where it has expanded offerings to include buy-now-pay-later service as well as effortless money transfers between users. The United States was also one of the first markets after South Korea to get the service. This growth is a sign of the success of Samsung because of their service and because of the smartphone features they are offering in their products.
