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Biz News Korea(Eng)
Samsung Pay’s accumulated transaction value hits $1.8 mn mark in 1st year at home
- Collected
- 2016.08.25
- Distributed
- 2016.08.26
- Source
- Go Direct
More than 11 million cards such as Automated Teller Machine (ATM) cards, membership and loyalty cards, and transit passes have joined Samsung Pay to offer their service through the mobile wallet. And its online payment service that started in full gear this year reached about 500 billion won in total transaction value.
Unlike other online payment system that requires a number of user verification processes, Samsung Pay allows its user to pay for purchases at online stores via a simple fingerprint authentication step.
The Samsung Pay was launched consecutively in seven countries - Korea, the U.S., China, Spain, Australia, Singapore, and Brazil, and the combined number of transactions in these countries exceeded the 100 million mark.
It is collaborating with over 440 banks across the world, major credit card companies including American Express, UnionPay, and VISA, as well as China’s biggest online financial payment service provider Alipay.
By Lee Seung-hoon
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