SEOUL — Samsung Wallet, the mobile payment and digital wallet platform by Samsung Electronics, has reached a major milestone in its home market of South Korea, celebrating its 10th anniversary with nearly 19 million active users.

Launched in August 2015 as Samsung Pay, the service merged with the company’s broader digital wallet offering to become Samsung Wallet. New figures released by Samsung on Saturday show that over 18.6 million South Koreans now use the platform a sharp rise from the 1.6 million recorded in its first year.

The adoption rate is significant, with roughly one-third of South Korea’s population relying on the service for transactions. In 2024 alone, the value of payments processed through Samsung Wallet exceeded $63.6 billion, underscoring its growing role in the country’s digital payments ecosystem.

Initially available only in South Korea, the service has since expanded to 60 markets worldwide, including the United States, one of the earliest adopters outside the company’s home base. In key markets such as the U.S., Samsung has broadened its offerings to include buy-now-pay-later options and seamless peer-to-peer transfers.

Samsung’s success with Wallet reflects a wider trend toward mobile-first financial services, particularly in Asia, where smartphone penetration and contactless payments continue to surge.