Samsung Pay adds 1M new users in India in over a month

Digital payment is witnessing an unprecedented boom in the post-demonetization phase in the country. This was once again established when Samsung announced that its mobile payment service Samsung Pay added 1 million users in over a month.

“On September 12 we had announced that we had 1.5 million users of Samsung Pay. Now we have an additional 1 million users in the last one-and-half months. The user growth has been significant,” Samsung India Director Commercialization Group (Product Planning) Sanjay Razdan told PTI.

Samsung Pay was launched in the country in March this year and India features in the top three countries among the 20 nations for Samsung Pay globally in terms of users, behind South Korea and Russia. Besides allowing users in India to simply tap and pay on the go using their registered cards, Samsung Pay has integrated Paytm as well as the government’s Unified Payments Interface into the app.

The service works with both Samsung’s patented Magnetic Secure Transmission (MST) technology as well as with Near Field Communication (NFC). MST replicates a card swipe by wirelessly transmitting magnetic waves from the supported Samsung device to a standard card reader. Through MST, Samsung pay will work seamlessly on a majority of Point of Sale terminals in India.

Samsung Pay is supported by devices like Galaxy Note 8, Galaxy S8, Galaxy S8 Plus, Galaxy S7 Edge, Galaxy J7 Max and Galaxy J7 Pro, among others.