Samsung Pay made its debut in India in March earlier this year allowing users to pay through their mobile phones with a few simple taps. India is currently the third biggest market for Samsung Pay after South Korea (where the user base tops 6.44 million) and Russia. It is expected to grow as India overtook the United States to become the second largest smartphone market across the globe.
According to a new report, Samsung Pay has added over one million new users in over a month. Samsung India Director Commercialization Group (Product Planning) Sanjay Razdan said:
"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."
Razdan, who heads the Samsung Pay business in India, said that the mobile payment solution has 17 financial institutions on board, including 10 banks. The company is also in talks with a few more banks to add support for the mobile payments service.
Samsung Pay is available in 20 markets across the globe and is compatible with a number of devices, including the Galaxy Note8, Galaxy S8, Galaxy S8+, Galaxy S7 Edge, Galaxy J7 Max, Galaxy J7 Pro, and its Gear S2 and S3 smartwatches. Over time, support has expanded to include a variety mid-range handsets as well.