Global payments platform Finablr has officially introduced a new money transfer feature in the Samsung Pay app.
In collaboration with Samsung Electronics America, the new international money transfer service feature is claimed to be a first in the US.
“Our consumers are global and have friends and family around the world. Samsung is excited to enable users to send money from the US to the rest of world by making it simple, secure and transparent,” said Sang W. Ahn, vice president & division head, content & services, Samsung Electronics America.
“Money Transfer is a first step in our vision to evolve Samsung Pay into a platform that makes users’ financial lives more convenient.
“The range of services in Samsung Pay, developed in close collaboration with industry leaders such as Finablr, positions us to positively impact consumers’ everyday financial experiences.”
The solution enables cross-border transactions to 47 countries within the Samsung mobile wallet, offering “a variety of payout methods” powered by Finablr group company, Travelex.
Users in the US can use their existing eligible pre-registered debit or credit cards in Samsung Pay to send money via Finablr’s global network.
Promoth Manghat, group CEO, Finablr, commented: “We are delighted to be partnering with Samsung to launch this new in-app cross-border payments capability. Underpinned by our integrated technology platform, this service demonstrates our ability to drive payments innovation.
“Combining our industry-leading network and pioneering technology with Samsung’s leadership in the mobile device market, allows us to innovate at a scale that is unique in the US$127 trillion global cross-border payments market.
“This partnership advances our mission to meet the evolving needs of financial consumers and further strengthens our position as a partner of choice for global payments and technology companies.”
Money Transfer in Samsung Pay is available now in the US with an expected expansion to other markets in 2020.