Samsung’s MX and Networks division posted ₩33.2 trillion in consolidated revenue and an operating loss of ₩0.7 trillion for the second quarter of 2026, according to Samsung Electronics. That division builds the Galaxy handsets Samsung Wallet runs on. That loss landed in the same quarter Samsung Electronics reported consolidated revenue of ₩171.5 trillion, another all-time quarterly high.
The gap matters for anyone tracking Samsung Pay. Samsung publishes no user count, no transaction count, and no payment volume for the wallet itself. What it does publish is a five-quarter financial trail for the division that distributes the app, a dated market record, and a run of credential partnerships.
Key Takeaways
- MX and Networks revenue reached ₩33.2 trillion in Q2 2026 while the same division reported an operating loss of ₩0.7 trillion.
- According to Samsung Electronics, group revenue hit ₩171.5 trillion, a quarter-on-quarter increase of 28% in that quarter.
- MX and Networks revenue equalled 19.4% of group consolidated revenue in Q2 2026, against 39.1% a year earlier.
- Samsung Wallet had expanded its services to 21 countries by the January 2023 statement from Samsung Global Newsroom.
- Samsung’s Samsung Wallet newsroom index carries 5 vehicle digital-key announcements, covering Audi, Volvo Cars and Polestar, Mercedes-Benz, Porsche and Toyota, the earliest on that index page dated November 15, 2024.
- Samsung Galaxy Card, issued by Barclays US Consumer Bank on the Visa network, pays 5% cash rewards on eligible purchases made directly with Samsung and 3% on purchases made with Samsung Wallet.
Editor’s Choice
- Samsung Electronics reported ₩333.6 trillion in annual revenue and ₩43.6 trillion in operating profit for the full year 2025.
- Per Samsung Electronics, group operating profit reached an all-time high of ₩89.5 trillion in Q2 2026.
- Earnings per share for both common and preferred shares increased by 52% to ₩10,849.
- MX and Networks revenue peaked at ₩38.1 trillion in Q1 2026.
- Samsung Global Newsroom dated the Trips launch to April 2026 in Korea, the United States, and the United Kingdom.
- Samsung Wallet’s Digital Home Key is designed to align with EAL6+ grade certification standards.
Samsung Wallet Market Availability by Announcement
About This Data
- Compiled from 28 captured passages across 18 Samsung-published pages, captured August 26, 2026.
- 10 quarterly results sections cover Q2 2025 through Q2 2026.
- 17 of those passages come from 12 Samsung Global Newsroom and Samsung India Newsroom posts dated June 2022 to July 2026.
- 1 Samsung support page carries a last update date of November 23, 2020.
- Only Samsung-published figures qualify, and they are updated when Samsung publishes new editions.
- Samsung Wallet first launched in June 2022.
- Samsung named 13 new markets for Samsung Wallet in its October 2022 announcement.
- Samsung stated the platform expanded its services to 21 countries over the course of 2022.
- Samsung then said Samsung Wallet will be available in 8 new markets, including Australia, Brazil, Canada, Hong Kong, India, Malaysia, Singapore, and Taiwan, starting at the end of January.
- The announced footprint reaches 29 markets once the two statements are added together, as of January 2023.
- Samsung has published no updated market count in any Samsung Wallet post since, so 29 remains the last figure the company put its name to.
- The 2022 expansion wave, covering Bahrain, Denmark, Finland, Kazakhstan, Kuwait, Norway, Oman, Qatar, South Africa, Sweden, Switzerland, Vietnam and UAE, was weighted toward Europe and the Gulf.
- Samsung’s own framing of the 2023 wave was availability, with a footnote stating that availability and launch of specific features and supported device models may vary by market and are subject to change.
The disclosure practice differs from China’s super-app wallets. Alipay vs WeChat Pay market share data rests on published usage figures, while Samsung publishes market names.
| Milestone | Date stated by Samsung | Markets involved |
|---|---|---|
| Samsung Wallet launch | June 2022 | Launch markets not enumerated |
| Expansion wave announced | October 14, 2022 | 13 new markets |
| Footprint reached during 2022 | January 19, 2023 | 21 countries |
| Further wave announced | January 19, 2023 | 8 new markets |
Source: Samsung Global Newsroom, October 2022 and January 2023
Samsung MX Division Revenue by Quarter
- MX and Networks posted ₩29.2 trillion in consolidated revenue for the second quarter of 2025.
- Revenue rose to ₩34.1 trillion for the third quarter of 2025.
- The division then reported ₩29.3 trillion for the fourth quarter of 2025.
- Q1 2026 was the peak of the run at ₩38.1 trillion.
- Revenue fell back to ₩33.2 trillion in Q2 2026.
- Samsung attributed the Q1 2026 result to a premium product mix, securing single-digit profitability via proactive cost optimization.
- The Q3 2025 uplift followed robust flagship smartphone sales, as well as the strong launch of Galaxy Z Fold7.
- Q2 2025 saw a decrease in smartphone shipments compared to Q1, when new models were released.
Recent Developments
- July 2026: MX and Networks revenue grew year-on-year on solid sales of the Galaxy S26 series and strong Galaxy A series momentum, while earnings declined due to elevated component cost pressures across the industry.
- July 2026: Samsung unveiled Samsung Galaxy Card, Samsung’s first-ever credit card.
- July 2026: Samsung described Samsung Wallet as powered by Samsung Account and a popular service among Galaxy users.
- April 2026: Samsung reported group revenue of ₩133.9 trillion, an all-time quarterly high, for the first quarter.
- April 2026: Samsung announced Trips, a new feature in Samsung Wallet designed to help Samsung Galaxy users organize and manage travel-related experiences in one place.
- March 2026: Samsung launched Digital Home Key, built on Aliro, a standardized smart lock access protocol.
Samsung MX Operating Profit and the First Loss in This Five-Quarter Run
- MX and Networks earned ₩3.1 trillion in operating profit for the second quarter of 2025.
- Profit peaked in the run at ₩3.6 trillion for the third quarter of 2025.
- Q4 2025 came in at ₩1.9 trillion.
- Q1 2026 recovered to ₩2.8 trillion.
- Q2 2026 broke the pattern with an operating loss of ₩0.7 trillion.
- Samsung’s stated cause was elevated component cost pressures across the industry.
- Across 2025 as a whole, the division achieved double-digit annual profit through flagship growth and stable sales of tablets and wearables.
Why it matters: Samsung Wallet reaches consumers only through Galaxy hardware, and the division that sells that hardware went from ₩3.6 trillion of quarterly operating profit in Q3 2025 to a ₩0.7 trillion loss in Q2 2026. Component costs, not wallet economics, drove the swing, but wallet distribution now rides a division under margin pressure.
| Quarter | MX and Networks operating profit (₩ trillion) |
|---|---|
| Q2 2025 | 3.1 |
| Q3 2025 | 3.6 |
| Q4 2025 | 1.9 |
| Q1 2026 | 2.8 |
| Q2 2026 | -0.7 |
Source: Samsung Electronics quarterly results releases, Q2 2025 to Q2 2026
Samsung Electronics Group Revenue Against the Mobile Division
- Group consolidated revenue was ₩74.6 trillion, a decrease of 5.8% compared to the previous quarter in Q2 2025.
- Q3 2025 brought ₩86.1 trillion, an increase of 15.4% compared to the previous quarter.
- Q4 2025 set a then-record at ₩93.8 trillion, a quarter-on-quarter increase of 9%.
- Q1 2026 jumped to ₩133.9 trillion, a quarter-on-quarter increase of 43%.
- Q2 2026 reached ₩171.5 trillion, a quarter-on-quarter increase of 28%.
- Group operating profit followed the same path, from ₩4.7 trillion in Q2 2025 to ₩89.5 trillion in Q2 2026.
- Memory drove the Q2 2026 result, with the Device Solutions (DS) Division posting a quarter-on-quarter sales increase of 56%.
- The consumer side moved the other way, as the Device eXperience Division posted a quarter-on-quarter sales decrease of 9%.
How Much of Samsung Is Still the Mobile Business
- MX and Networks revenue equalled 39.1% of group consolidated revenue in Q2 2025.
- The ratio held at 39.6% in Q3 2025.
- It fell to 31.2% in Q4 2025.
- Q1 2026 took it to 28.5%.
- By Q2 2026, the ratio was 19.4%.
What is Samsung’s biggest source of revenue?
Semiconductors. Samsung’s Device Solutions (DS) Division posted ₩127.5 trillion in consolidated revenue for the second quarter of 2026, against MX and Networks revenue of ₩33.2 trillion. Divisional operating profit was ₩89.2 trillion. Memory, not mobile, carries the group.
Samsung Galaxy Card Cash Reward Rates
- Samsung Galaxy Card is issued by Barclays US Consumer Bank on the Visa network.
- The card pays 5% cash rewards on eligible purchases made directly with Samsung.
- Paying through the wallet earns less, at 3% cash rewards on purchases made with Samsung Wallet.
- Streaming services earn 2% cash rewards on services like Netflix, Disney+, and Spotify.
- Everything else earns 1% cash rewards on all other purchases.
- Applications opened July 22, 2026, with an additional $200 in bonus cash rewards after spending $2,000 in the first 90 days of account opening.
- Members also get 20% off Samsung VIP Advantage, plus 5% cash rewards when purchasing or renewing a Samsung VIP Advantage membership.
The reward ladder tells you where Samsung wants the spend to go: buying Samsung hardware pays a higher rate than paying through Samsung’s own wallet. Card-network economics are the backdrop here, and the Visa transaction data behind that network sets the interchange pool any rewards programme is funded from. Amazon runs the same play with its own co-branded card, which is why Amazon moves with retail spend rather than with wallet adoption.
Samsung Wallet Digital Key Partners and Launch Dates
- Audi arrived on November 15, 2024.
- Volvo Cars and Polestar followed on February 17, 2025.
- Mercedes-Benz was announced on June 25, 2025, with Samsung saying support would start in July 2025.
- Porsche arrived on December 9, 2025, starting with the Porsche Macan (MY26) and extending to additional models, including the Cayenne Electric next year.
- Toyota came on January 13, 2026, with Samsung saying the feature would start in January 2026.
- Samsung then extended keys to vehicles, since Digital Home Key expands Samsung Wallet’s digital key capabilities beyond vehicles to the home.
- Named smart-lock partners are Aqara, Nuki, Schlage and Xthings.
By the numbers: Samsung’s Samsung Wallet index dates vehicle digital-key announcements from November 15, 2024 to January 13, 2026, then a home key on March 2, 2026. Across that same window Samsung’s global newsroom carried no new payment capability for Samsung Wallet outside India.
Samsung Wallet in India and UPI Onboarding at Device Setup
- Samsung India published the announcement on October 30, 2025.
- Samsung says it is the first Original Equipment Manufacturer (OEM) to enable onboarding of Unified Payments Interface (UPI) accounts through Samsung Wallet as part of the new-device setup experience on Galaxy smartphones.
- Samsung framed the goal as users being payment-ready from the moment they power on their new Galaxy device.
- On authentication, Samsung said users will soon be able to access the app and make UPI payments using just their Galaxy device’s fingerprint or face recognition.
- On card payments, Samsung said Samsung Wallet will soon support direct online usage of stored credit and debit cards across a wide set of key merchants.
- The company described the wider push as enhanced Tap and Pay support, including FOREX cards and online card payments.
Note the tense in Samsung’s own language: two of the three headline features were announced as future capability rather than shipped capability. Anyone sizing the India opportunity should read those UPI transaction data volumes as the addressable pool, not as Samsung Wallet throughput, and treat the PIN-free flow as a stated plan for biometric authentication rather than a live figure.
| Feature announced October 30, 2025 | Status in Samsung’s wording |
|---|---|
| UPI onboarding inside new-device setup | Stated as shipped, Samsung claims OEM first |
| Biometric verification replacing PIN entry | “will soon be able to” |
| Online use of stored credit and debit cards | “will soon support” |
| FOREX card support for Tap and Pay | Described as enhanced support |
Source: Samsung India Newsroom, October 2025
Which Countries Samsung Named for Samsung Wallet
- Samsung’s 2022 list ran to 21 countries: Bahrain, China, Denmark, Finland, France, Germany, Italy, Kazakhstan, Korea, Kuwait, Norway, Oman, Qatar, South Africa, Spain, Sweden, Switzerland, Vietnam, UAE, the U.K. and the U.S.
- The January 2023 additions were Australia, Brazil, Canada, Hong Kong, India, Malaysia, Singapore and Taiwan.
- Samsung’s October 2022 post named China, France, Germany, Italy, Korea, Spain, the U.K. and the U.S. among the markets where the platform had already launched.
- Grouped by region, those 29 named markets split into 10 in Europe, 9 in Asia Pacific, 5 in the Middle East, 3 in the Americas, and 2 across Africa and Oceania.
- Neither list is a live availability statement. Both are announcement records, and Samsung has not published a replacement.
Samsung Wallet Security Certifications and Authentication Methods
- Samsung describes Samsung Wallet, launched in June 2022, as protected by government-grade security from Samsung Knox.
- Digital Home Key is designed to align with EAL6+ grade certification standards, providing robust protection against unauthorized access to digital keys.
- The home key runs on Aliro, an industry-standardized communication protocol developed by the Connectivity Standards Alliance (CSA), with 4 named smart lock brands: Aqara, Nuki, Schlage, and Xthings.
- Doors open by tapping a smartphone using near-field communication (NFC) technology, using hands-free access with ultra-wideband (UWB) proximity detection, or remotely through the app.
- Samsung said in October 2022 that the platform stores particularly sensitive documents in an isolated environment, which offers an extra layer of protection against potential digital and physical hacking attempts.
- Samsung Knox uses protections such as encryption and biometric authentication to help safeguard sensitive information.
Both the vehicle keys and the home key ride the same short-range radio stack that carries NFC-based payments, which is why the credential expansion required no new payment rails.
Samsung Pay Metrics Samsung Does Not Publish
4 figures readers routinely search for appear nowhere in the Samsung Wallet newsroom index or the 5 most recent quarterly results releases.
- Quarterly results report revenue and profit at the divisional level only, with no breakout for Samsung Wallet.
- The Wallet newsroom index runs from November 2024 to July 2026 and carries feature announcements only, with no adoption metric in any post.
- The most-repeated third-party active-user count has no matching Samsung statement and is excluded here.
- Cross-border transactions and stablecoin balances are attributed to the roadmap by secondary crypto press, and Samsung’s newsroom announces neither.
| Metric readers search for | Where Samsung publishes it |
|---|---|
| Samsung Pay global active users | Not stated in the Samsung Wallet newsroom index or in five quarterly results releases |
| Samsung Wallet transaction count or value | Not stated in either source set |
| Samsung Wallet revenue | Not broken out below MX and Networks divisional level |
| Current live market count | Last stated January 19, 2023 |
Source: CoinLaw review of Samsung Global Newsroom and Samsung Electronics quarterly results releases, June 2022 to August 2026
Samsung Pay and Samsung Wallet Are Not the Same Product Everywhere
- Samsung’s own footnote states that Samsung Wallet features were launched in South Korea under Samsung Pay.
- At launch, Samsung Wallet incorporated the functionality of Samsung Pass, which securely stores passwords and enables users to quickly and easily log into apps and services.
- A crypto view shipped in 2022, letting users check the value of their cryptocurrencies across various exchanges in one place.
- Samsung said at launch that Samsung Wallet will also begin to support official IDs, such as mobile driver’s licences and student IDs later that year.
- A live Samsung support page carrying a last update date of Nov 23, 2020 still tells readers that Samsung Pay support on the Galaxy Watch Active is available in 15 countries.
- That page’s country list names the US, Canada, China (Transit only), Spain, UK, Singapore, Australia, Brazil, Russia, Malaysia, the UAE, Sweden, Switzerland, Italy, and South Africa.
Samsung’s crypto view is worth separating from cryptocurrency payments, because Samsung presented it as a way for users to quickly monitor their digital asset portfolio by checking the value of their cryptocurrencies across various exchanges in one place rather than as a way to spend them.
| Name | What it refers to | Date of Samsung’s statement |
|---|---|---|
| Samsung Pay | The brand under which Samsung Wallet features launched in South Korea | January 19, 2023 |
| Samsung Pay (Galaxy Watch Active) | A 15-country wearable payment feature list | November 23, 2020 |
| Samsung Wallet | The platform that absorbed Samsung Pass and added IDs and keys | June 2022 |
| Samsung Galaxy Card | Samsung’s first credit card, stored inside Samsung Wallet | July 21, 2026 |
Source: Samsung Global Newsroom and Samsung support pages, 2020 to 2026
How Popular Is Samsung Pay?
No popularity metric for it appears in the Samsung sources reviewed here. The closest the company comes is qualitative: Samsung’s July 2026 feature describes Samsung Wallet as powered by Samsung Account and a popular service among Galaxy users, and its October 2022 announcement said the platform had become hugely popular in markets including China, France, Germany, Italy, Korea, Spain, the U.K. and the U.S. Neither statement carries a number.
What can be measured is reach rather than use. Samsung’s last stated footprint was 29 announced markets, counted from its January 2023 announcement. That makes announced reach, not adoption, the only figure anyone can honestly quote, and it is a weaker claim than the one competitors make when they attach a user count to it. Wallets that do disclose adoption, PayPal among them, set a bar Samsung has chosen not to meet.
What Are the Disadvantages of Samsung Pay?
Feature availability is much narrower than the app’s market footprint. Trips, Samsung’s April 2026 travel feature, launched in Korea, the United States, and the United Kingdom only, against an announced Samsung Wallet footprint of 29 markets. Samsung also gates it by app build, requiring version 5.9.32 or higher in Korea, version 6.4.97 or higher in the U.S., or version 6.4.98 or higher in the U.K.
The second constraint is hardware, because Samsung Wallet runs on Galaxy devices and its distribution is therefore tied to a handset division that reported an operating loss of ₩0.7 trillion for the second quarter of 2026. Across CoinLaw’s payment-platform coverage, the wallets that hold share through a hardware cycle are the ones that ship on more than one vendor’s devices, and Samsung Wallet does not.
Conclusion
Samsung Wallet’s measurable record is a divisional one. MX and Networks booked ₩33.2 trillion in consolidated revenue and an operating loss of ₩0.7 trillion for the second quarter of 2026, against group revenue of ₩171.5 trillion in the same quarter, which leaves the mobile business at 19.4% of the company by revenue. Samsung’s Samsung Wallet index carries 5 vehicle digital-key announcements since November 2024, alongside a home key, a travel feature and, in July, a Barclays-issued credit card.
The honest read is that Samsung runs a wallet it does not measure in public. Until Samsung publishes an adoption figure, announced market count and feature availability are the only Samsung Pay statistics that can be cited without borrowing someone else’s estimate, and both now carry dates that are years old. The first Samsung post attaching a number to the wallet itself will be the next figure worth adding here.
