millions of users throughout the US: Samsung Pay saw 25% month-over-month growth between November 2016 and November 2017, and it gained 1 million US users in the first week of November 2017 alone.
Further, in November 2017, Samsung estimated its rewards program increased usage of Samsung Pay by 48%. Rewards were also likely a key incentive driving repeat usage for Samsung Pay, as consumers may have gravitated to the payment method to accumulate rewards. Cutting its rewards program could be a cost-saving strategy for Samsung Pay—but the move might also usher in increased competition in the US market.
Samsung Pay reached 14.7 million US users in 2020—which might've been a motivating factor in Samsung's move to cut rewards. Samsung Pay users accounted for nearly 17% of proximity
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