Samsung Pay Enhances Mobile Payments with Finablr Partnership for Global Transfers

Convenient Cross-Border Payments Arrive

Samsung Pay is taking a significant leap forward in the world of digital payments by teaming up with Finablr, a major player in the payments industry. This new partnership, announced on October 3, introduces a Money Transfer feature that promises to deliver a seamless cross-border payments experience to users in a staggering 47 countries. Talk about making international funds transfer as easy as sending a text!

All About Seamlessness

The Money Transfer feature, which integrates directly with Samsung’s native mobile wallet, not only allows users to send money but also does so with a variety of payout methods. Now that’s a buffet of options! Samsung Pay users in the United States will be able to use their debit or credit cards to whip out transfers like they’re ordering a weekend pizza.

Transparent Costs, Enhanced Security

One of the notable highlights of this service is its transparency. All fees and exchange rates are disclosed upfront. It’s like the fine print you can actually read and understand! No more unexpected surprises when checking your bank balance, just plain sailing. But wait, there’s more—thanks to Samsung Knox, a robust security feature, all transactions utilize tokenized credentials for an extra layer of protection.

A Vision for Financial Evolution

Sang Ahn, the Vice President and head honcho of Samsung’s content and services division in America, shares that this is just the beginning of their mission to evolve Samsung Pay into an all-encompassing financial management platform.

“Money Transfer is a first step in our vision to evolve Samsung Pay into a platform that makes users’ financial lives more convenient,”

said Ahn. Sounds like Samsung Pay wants to be the Swiss Army knife of mobile payments!

The Competitive Landscape

With Money Transfer now available in the United States, the excitement doesn’t stop there. Plans are underway to expand this nifty feature to other markets next year. With companies like Finablr, founded in 2018 and boasting an annual revenue of $5 million, Samsung is making smart moves in this increasingly competitive space. Let’s not forget that Circle, which recently acquired cryptocurrency exchange Poloniex, is also in the mix—showing just how fiery the race for financial supremacy has become!