Samsung Electronics announced on the 22nd that its mobile payment service, "Samsung Wallet Money and Points," has surpassed 3 million registered users within one year of its release.
Samsung Wallet Money and Points is a prepaid mobile payment service integrated into Samsung Wallet, allowing users to top up their balance for payments and accumulate points.
Launched in October last year, the service reached 1 million users within two months and has now surpassed 3 million users in one year.
Samsung Electronics cited as key factors behind its growth: the ability to accumulate points without any spending requirements or accumulation limits; usability at all domestic merchant locations; and the fact that points earned from payments can be used immediately like cash for subsequent transactions.
Since the 20th, Samsung Electronics has been sequentially rolling out app updates that include new features such as a point tier system and support for overseas payments.
The point tier system was introduced to provide greater benefits to users who have closely utilized the service in their daily lives. It is divided into four tiers based on annual cumulative points: Solar (the highest tier), Lunar, Sky (default), and Young.
Customers in the Young tier (for those aged 14 to 29) can receive an additional 3% point accumulation benefit upon payment. Customers in the Solar and Lunar tiers are offered various benefits depending on their level, including discount coupons for gifting and additional instant-win lottery tickets when paying with Money.
14 new mini-games will be added to the "Benefits Tab" within the Samsung Wallet app. Users can accumulate points while playing these games.
To commemorate the first anniversary of the launch of Samsung Wallet Money and Points, Samsung Electronics will also run various events starting from the 27th.
The company is operating a "First Payment Event," which provides an immediate 5,000 points for the first payment made with Samsung Wallet Money and offers prizes such as the "Galaxy Z Fold8" through a lottery, as well as an "Overseas Payment Accumulation Event," which grants an additional 2.5% point accumulation to customers who pay using Samsung Wallet Money abroad. There is also a benefit that provides an immediate 2,000 points for Young tier customers who make one payment with Toss Youth Card or KakaoBank Mini Card via Samsung Wallet.
Vice President Chae Won-cheol of the MX Business Division at Samsung Electronics stated, "Adding practical value to customers' daily lives is the direction that Samsung Wallet aims for." He added, "Going forward, we will expand the Samsung Wallet ecosystem to various domestic and international lifestyle touchpoints and strengthen benefits that customers can feel in their everyday lives."
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