Samsung Pay, Finablr announce cross-border payments partnership

20840807296 0d316b1d14 cGlobal payments platform Finablr has partnered with Samsung Pay to introduce a new in-app international money transfer service

The company stated that the app will offer users seamless and secure cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet.

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 network. The service leverages Finablr’s 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.

Sang W. Ahn, vice-president and division head, Content and Services, Samsung Electronics America, said, “Money Transfer is the 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.”

Promoth Manghat, Group CEO at Finablr, commented, “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,” he added.

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