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Samsung Pay is gaining 25,000 users daily

Following Samsung Pay's launch in South Korea last month, the company is now seeing that an average of 25,000 people are signing up to use the service daily.

Samsung Electronics Executive Vice President and the development lead for Samsung Pay Injong Rhee, says that the payment platform's usage has increased rapidly since its launch and is bringing in daily transaction volumes of KRW 750 million (~$630,000) on average.

During the open beta, the number of active users who made more than one payment with Samsung Pay represented 80 per cent to 90 per cent of all Samsung Pay users.

Samsung Pay is also in beta testing in the US and is set to formally launch on 28 September. In addition, beta tests will also be conducted in other countries including the UK and Spain, Rhee says. Samsung has previously talked about expanding the payments service to countries across Europe as well as China later this year.

Samsung intends to provide the ability to make payments using credit cards, reward cards, department store cards, gift cards and store-brand cards - which won't work with conventional plastic debit cards - as an incentive for people to use the payment service.

The company is also looking to provide other features in the future, including a location-based service.