Samsung Electronics over the weekend announced it will expand Samsung Pay's availability to seven countries as the mobile-payment service continues to add users in South Korea and the U.S.

Samsung Pay will start global expansion beginning with China in March, followed by Australia, Brazil, Singapore, Spain and the U.K. later in the year. The company also said that Canada will be added to the "new launch roadmap."

"Since its introduction last year, Samsung Pay has changed the way people pay and use their smartphones," said InJong Rhee, head of R and D for software and services and executive vice president of Mobile Communications Business at Samsung Electronics. "We've already seen significant consumer adoption and we continue to see great momentum. Our aim is to expand Samsung Pay to even more locations around the world, and our customers should expect to see more features in the year to come."

Samsung said Samsung Pay has some 5 million registered users who have used the system to make more than $500 million in purchases since the mobile wallet debuted six months ago.

Samsung also announced it is partnering with BC Card, Hana Card, KB Kookmin Card, Lotte Card, NH Nonghyup Card and Samsung Card to provide a quick and easy online payment service in South Korea. By adding this new service, consumers will be able to use the Samsung Pay Fingerprint Authentication to pay online.

Source:Traders