Samsung and Naver Pay On-site Payments Surge in One Month... 14 Million Transactions at 580,000 Locations

On-site Payment Amount Increased by 123%
Payments by 3040 Generation Grew Over 200%

After Naver Pay integrated Samsung Pay's Magnetic Secure Transmission (MST) method for on-site payments, the payment amount surged within a month.

Naver Financial announced the results of the first month since the Samsung Pay integration on the 18th. First, the number of new installations of the Naver Pay application (app) last month was about 470,000, a 186% increase compared to the previous month. At the beginning of the same month, it ranked first in the Google Play Store's combined popular apps and games category, and held the number one spot in both the overall app and finance app categories for 1 to 2 weeks.

The average on-site payment amount per user increased by 123% compared to the previous month. Notably, users who made repeated payments two or more times accounted for 72% of the total. By age group, the main consumer groups in their 30s and 40s saw on-site payment amounts grow by 206% and 219% respectively compared to the previous month. Payment amounts by users in their 20s also increased by 143%.

With the ability to draw Naver Pay points after payments anywhere nationwide, the number of point draws participated in by users last month reached about 14 million. The number of users who accumulated more than 10,000 points last month surged by 550% compared to the previous month.

The number of on-site payment locations is steadily increasing. Last month, there were about 581,000 payment locations, accounting for about 20% of the 3 million nationwide merchants where Samsung Pay is available. The types of businesses accepting payments also greatly expanded from major convenience stores and cafe and bakery franchise stores. It is now available in everyday life locations ranging from small restaurants to pharmacies, clinics and hospitals, gas stations, and vehicle purchases.

Meanwhile, Naver Pay is continuing various on-site payment promotional events through this month. Users who make their first Samsung Pay on-site payment (over 1,000 won) via the Naver Pay app will receive 1,000 points immediately. Additionally, among users who complete 30 point draws after using on-site payments during this month, 10, 1,000, and 10,000 users will be selected by lottery to receive 1,000,000, 10,000, and 1,000 points respectively.

In the future, Naver Pay plans to enable MST-based Samsung Pay payments through the Naver app as well. A Naver Financial official stated, "We will firmly establish ourselves as the most sought-after simple payment service for users wherever payments are needed in daily life, both online and offline."

This content was produced with the assistance of AI translation services.