18.66 Million Subscribers and 430 Trillion Won in Cumulative Payments
AI Technology to Enhance Personalized Services
Promotions Include Cashback, Prizes, and SNS Events
Samsung Electronics' integrated digital wallet service, Samsung Wallet, marked its 10th anniversary this year since its debut in August 2015. Photo by Samsung Electronics
Samsung Electronics' integrated digital wallet service, Samsung Wallet, celebrates its 10th anniversary this year. Since its debut in August 2015, Samsung Wallet has evolved beyond a simple mobile payment tool to become a comprehensive digital life platform encompassing payments, transportation, identity verification, memberships, and electronic documents.
According to Samsung Electronics on August 11, the number of Samsung Wallet subscribers has increased approximately elevenfold from 1.6 million in its first year to 18.66 million today. This means that one out of every three people in Korea uses the service, with an average of 16.6 million app launches per day. The annual payment volume grew about twenty-fourfold from 3.6 trillion won in 2016 to 88.6 trillion won in 2024, while the cumulative payment volume reached approximately 430 trillion won. As the domestic simple payment market expanded more than tenfold from 23.5 trillion won in 2016 to 350 trillion won in 2024, Samsung Wallet consistently broadened its user base and service offerings.
The most notable feature of Samsung Wallet is its ability to replace all wallet functions within a single app. In addition to credit and debit card payments, it integrates transportation cards, memberships, account management and transfers, airline tickets, event tickets, and mobile coupons. It also supports mobile resident registration cards, driver’s licenses, and national veterans’ registration cards, all of which have the same legal effect as physical IDs, as well as mobile student IDs and electronic certificate viewing and submission. The addition of a digital car key function has created a "fully digital wallet" environment, eliminating the need to carry a physical wallet in daily life.
This evolution has been driven by collaboration with domestic and international partners. At launch, Samsung Wallet supported both magnetic secure transmission (MST) and NFC, tailored to Korea’s payment infrastructure, allowing the service to spread without imposing additional burdens on merchants.
Samsung Wallet has also expanded its competitiveness in the global market, now offering services in partnership with local companies in 61 countries, including the United States, United Kingdom, Saudi Arabia, Brazil, and Singapore. With a domestic registered card, users can make contactless payments at NFC merchants worldwide, and in GLN partner countries through Hana Bank’s global payment platform, they can pay or withdraw cash at ATMs simply by scanning a QR code. In 85 cities across 12 countries, users can access subways and buses with just a credit card, and major currency exchange and same-day pickup services are also available.
Looking ahead, Samsung Electronics plans to integrate artificial intelligence (AI) technologies to further develop Samsung Wallet into an "intelligent personal finance and lifestyle platform." Chae Woncheol, Executive Vice President and Head of the Digital Wallet Team at Samsung Electronics MX Division, stated, "We will continue to provide convenience and experiences that go beyond a traditional wallet, based on a variety of advanced technologies."
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