Samsung Pay, the electronics giant's mobile-payments service, turns one year old in the US on Wednesday. The company is celebrating with new features and a prize giveaway.

Samsung said Tuesday it has added support for coupons, memberships and gift cards to the service. Users can now search, save and redeem coupons within the app. Users can also use the app to redeem gift cards from hundreds of retailers.

Accompanying the new features is a cloud storage feature that allows users to restore membership, gift, and Samsung Reward cards whenever they sign into a new device.

Since Samsung Pay's launch a year ago, more than 500 banks and credit unions have signed on to support the service. Samsung says the group represents more than 80 percent of the debit and credit card market in the US.

To celebrate its first 365 days in the US, Samsung said it is offering more than $100,000 in prizes, including 365 Gear S2 smartwatches. Currently in beta, Samsung Pay on Gear S2 uses Near Field Communication (NFC) technology to allow users to make payments at NFC-enabled terminals.

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