Samsung Pay, Finablr Launch In-App International Money Transfer

Global payments platform Finablr is partnering with Samsung Pay for app-based cross-border payments, Finablr announced in a press release on Thursday (Oct. 3).

The money transfer service is the first of its kind in the U.S., the announcement said, and delivers smooth, safe transmittals to 47 countries on Samsung’s wallet. 

“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 the world by making it simple, secure and transparent,” said Samsung Electronics America Vice President and Division Head, Content and Services Sang W. Ahn. 

“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,” Ahn added.

Samsung Pay’s U.S. customers can send payments on the Finablr network with the same cards they currently use. Transfers are available in most major currencies in a variety of payout options, even cash pickup.

“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,” said Finablr Group Chief Executive Officer Promoth Manghat. 

“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 $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,” Manghat added.

The new service is being powered by a Finablr Group company, Travelex, according to the release. Earlier this month, Travelex launched a global platform for businesses.