Samsung Pay is undoubtedly one of the best and most widely accepted mobile payments services out there. By acquiring LoopPay and integrating its patented MST technology into its smartphones and smartwatches, Samsung was able to roll out a service that quickly became popular in markets where it was launched.
More than two million transactions in Spain last year
Since its launch in various markets, Samsung Pay has been enjoying a high satisfaction rate among its users. In another instance of Samsung’s Pay’s growing popularity, the company has announced in a press release today that Samsung Pay has processed transactions of 100 million euro in Spain since its launch in 2016. Samsung says the service was used for more than two million transactions in Spain last year alone.
The press release also quotes a study conducted by IPSOS for Samsung, where 75% of the respondents were already aware of the mobile-based payment solutions and 56% of the respondents frequently use them for their simplicity and convenience. Even those 44% respondents who were unaware of mobile-payment solutions were willing to use once they were informed about them. The press release doesn’t make it clear if these numbers are specific to Samsung Pay or all mobile payment solutions in general.
According to Celestino García, Corporate Vice President of Samsung Spain, being able to use Samsung Pay is one of the reasons for 70% of the existing Samsung customers to buy Samsung products again. To further solidify its claim about the loyalty enjoyed by Samsung Pay, Samsung says 75% of the respondents who expressed a high satisfaction rate with the service attributed it to convenience and simplicity, while 74% of the respondents were willing to recommend the service to family and friends without any hesitation.
Unlike NFC based mobile payment solutions such as Android Pay and Apple Pay, Samsung Pay works with almost every PoS terminal that can accept your credit card or debit card. Samsung Pay achieves this universality by combining both patented MST technology and NFC service into a single intelligent payment solution. This makes Samsung Pay more widely accepted and easy to use, leading to its growing popularity and adoption.