Samsung Electronics announced that its mobile payment service, Samsung Wallet Money and Points, has surpassed 3 million subscribers as it marks its first anniversary on October 22.
Samsung Wallet Money and Points is a rechargeable payment service integrated into Samsung Wallet, allowing users to load money for payments and earn points.
Launched in October last year, the service reached 1 million subscribers within two months and has shown rapid growth, hitting 3 million in just one year.
Samsung Electronics cited several factors for this growth, including the ability to accumulate points without monthly performance or accumulation limits, its usability at all domestic merchants, and the option to use points earned during payments as cash for subsequent transactions without restrictions.
The service's straightforward benefits without complicated conditions have resonated well with consumers.
To celebrate the first anniversary, Samsung Electronics has begun rolling out app updates that include new features such as a point grading system and support for overseas payments starting October 20.
The point grading system was introduced to provide more benefits to users who frequently utilize the service. Users are categorized into four tiers based on their annual accumulated points: Solar, Lunar, Sky (basic), and Young.
Customers in the Young tier (ages 14-29) will receive an additional 3% in points for payments, while Solar and Lunar tier customers will enjoy various benefits, including discount coupons for gifting and additional entries for instant win prizes when using money for payments.
Additionally, 14 mini-games have been added to the 'Benefits Tab' within the Samsung Wallet app, allowing users to earn points while playing, providing them with various entertainment options.
To commemorate the first anniversary of Samsung Wallet Money and Points, Samsung Electronics will hold various events starting October 27.
Key events include an 'Initial Payment Event' where users making their first payment with Samsung Wallet Money will receive 5,000 points instantly and have a chance to win prizes such as the Galaxy Z Fold 8 through a lottery.
Moreover, an 'Overseas Payment Reward Event' will offer an additional 2.5% in points for customers making payments abroad using Samsung Wallet Money.
Chae Won-cheol, Vice President and Head of the Digital Wallet Team at Samsung Electronics MX Division, stated, "Adding practical value to customers' daily lives is the direction Samsung Wallet aims for. We will continue to expand the Samsung Wallet ecosystem into various everyday touchpoints both domestically and internationally, enhancing benefits that customers can feel in their daily lives."
* This article has been translated by AI.
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