Samsung’s mobile payment system was launched last year and now details have been revealed that Samsung Pay made a loss in 2015.
According to a recent report, Samsung Pay made a loss off 2.6 billion KRW, this is around $16.8 million at the current exchange rate.
The news comes from Samsung’s audit report which revealed that the service had revnue of $4.12 million and a net loss of $16.8 million.
Samsung’s mobile payment system is available in South Korea and also the US, it is expected to also launch in the UK shortly.
It will be interesting to see if Samsung is able to make a profit with their mobile payment system in 2016, the company is expected to expand the service to more countries around the world.
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn more.