Finablr and Samsung have introduced the Money Transfer feature in Samsung Pay. This new in-app international money transfer service, a first of its kind in the US, offers users seamless and secure cross-border 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 40 years of cross-border payment expertise to put mobile payments into the hands of millions of consumers.
Samsung Pay users in the US can use their existing eligible pre-registered debit or credit cards in Samsung Pay to safely and securely send money in most major currencies to their recipients via Finablr’s global network.
The service leverages Finablr’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. This partnership marks a significant collaboration between Samsung and Finablr to launch such a service with global scale.
“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.”
Money Transfer in Samsung Pay is available now in the US The service will be expanded to other markets in 2020.