Samsung Pay’s third anniversary: more than 1.3 billion transactions in 24 markets

Samsung electronics shares some important data as it marks the third anniversary of the launch of the Samsung Pay service, according to media reports.

Samsung Pay is available in 24 markets on six continents, including the latest in South Africa, Samsung said.

In China, Hong Kong, Singapore, South Korea and the UK, Samsung pay also supports the bus card function.

The South Korean tech giant has announced that its automatic payment service has already traded around the world for 1.3 billion transactions and is now listed on six continents thanks to the launch in South Africa at the end of July.

Samsung Pay, backed by thousands of Banks, networks, merchants and service providers around the world, recently topped 1.3 billion transactions globally.

One of the strategies for Samsung Pay to develop its payment business is to build partnerships with financial institutions.

At present, Samsung has partnered with China Alipay, WeChat payment, India payment application Bhim, Korea mobile payment service Payco, US Chase pay, PayPal and Vietnam National payment company NAPAS.

Although $1.3 billion is a lot, it’s worth noting that Apple pay has handled more than 1 billion deals in the second quarter of this year.

While this growth is largely recent (three times times that of Apple a year ago), it shows that Apple’s lead in NFC payments is making a big success. Apple has a slight advantage in only 29 markets, some of which are small areas like Manx and San Marino.

In other words, Samsung Pay will chase Apple Pay for some time to come.