Woori Bank announced Wednesday that its "Samsung Wallet Money & Points" service, launched in partnership with Samsung Electronics (005930.KS), has surpassed 1 million subscribers.
The Samsung Wallet Money & Points service, which launched in October, exceeded 500,000 subscribers within three weeks of its debut and crossed the 1 million mark in less than two months, demonstrating strong popularity. Analysts attribute the rapid growth to the convenience of signing up directly through Samsung Wallet without installing a separate application and the industry-leading points accumulation rates.
To celebrate reaching 1 million users, the two companies are launching a promotional event offering up to 10% points accumulation starting December 15. For offline payments using Samsung Wallet Money, customers can receive a base 0.5% accumulation, plus 5 percentage points for the 1 million milestone celebration, 1.5 percentage points for charging and paying through a Woori Bank account, and 3 percentage points for using the Samsung Wallet Money Woori account, allowing customers to earn up to 10% points on their payment amounts.
The partnership is also expanding lifestyle-focused benefits. Customers will receive 1,000 points instantly for purchases of 3,000 won or more at GS25 convenience stores, and instant discounts and points accumulation benefits at major online malls including Lotte ON. The companies plan to continue expanding partnerships to broaden customer benefits.
"As 1 million customers have chosen our service in such a short period, we will repay them with tangible benefits," officials from Woori Bank and Samsung Electronics said. "We will continue to develop this into a payment service that can be used more frequently and conveniently in daily life."
