Woori Bank, in partnership with Samsung Electronics, announced that its Samsung Wallet Money service has exceeded 2 million new users within six months of its launch. The service differentiates itself from existing payment options by allowing users to make online and offline transactions using only their smartphones, as well as offering ATM withdrawals and money transfer capabilities.
Samsung Wallet Money is automatically registered in the Samsung Wallet, enabling payments with just a smartphone tap without needing to open a separate app. Unlike some payment services that only work at QR code merchants, it can be used at regular card merchant locations, utilizing existing card payment infrastructure without requiring additional devices.
The registration process has also been simplified. Users can sign up with just a mobile phone verification, and those aged 14 and older can directly recharge and make payments. The integration with Samsung Wallet, a standard service on Samsung smartphones, enhances accessibility by eliminating the need for a separate app installation.
Recently, the service introduced a mobile transit card top-up feature to improve convenience. Users of Samsung Wallet Money can recharge their T-money mobile transit card balance without fees through an update to the Samsung Wallet app. Additionally, a top-up service for the Izle (formerly Cashbee) mobile transit card is in development, aiming for a launch in early the third quarter of this year.
"Beyond simply expanding payment methods, the significance of Samsung Wallet Money lies in enhancing financial convenience in daily life," said Heo Min-woo, a manager in Woori Bank's platform business division. "We will continue to provide a broad financial experience for all customer segments."
* This article has been translated by AI.
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