Finablr PLC, a global platform for payments, and Samsung Electronics America are introducing a new money transfer feature that will go a long way towards smoothing financial exchanges for busy travelers. Samsung Pay, a new in-app international money transfer service and a first of its kind in the U.S., offers users seamless and secure crossborder payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet.
The service combines Samsung Pay’s convenience, scale and security with Finablr’s international reach and cross-border payment expertise to put mobile payments into the hands of millions of consumers.
Samsung Pay users in the U.S. can use their existing eligible pre-registered debit or credit cards in Samsung
Pay to send money in most major currencies to their recipients via Finablr’s global network. The service leverages the payment company’s global reach and distribution capabilities, providing a wide choice of payout options tailored to the preferences of the recipient – from bank deposits to cash available for pick up.
Money Transfer is powered by Finablr group company, Travelex, and offers Samsung Pay customers:
• Convenience – The service gives users the ability to send money seamlessly to their recipients through a
variety of digital and physical payout methods in 47 countries, with just a few taps on their phone.
Consumers simply open the Samsung Pay app and the tools are right at their fingertips.
• Transparency – With this service, all fees and exchange rates are included upfront so users know how
much they will pay before securely transferring funds.
• Security – Finablr’s network of trusted brands, including Travelex, with its 40 years of experience in
cross-border payments, and licensed by over 100 regulators globally, bring security, reliability and peace
of mind to the Samsung Pay users of this feature, which uses tokenized credentials and is backed by
Samsung Knox security.
Money Transfer in Samsung Pay is currently available in the U.S. and will be expanded to other markets in
2020. Samsung Pay users in the U.S. can now send money to recipients in 47 countries including India, Mexico, China, Philippines and major markets in Africa, as plans to expand to other markets unfold.