Samsung Pay and Finablr partnership offers 3 key consumer benefits

October 4, 2019 • Finance, Security, Top Stories

Global payments platform, Finablr has partnered up with Samsung in a bid to facilitate cross-border payments through Samsung Pay. The in-app money transfer company provides secure payments for up to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet.

Samsung Pay and Finablr Announce Cross-Border Payments Partnership.

Samsung Pay users can use their pre-registered debit or credit cards in Samsung Pay to safely and securely send money in most major currencies thanks to Finablr’s global network.

3 key benefits offered to Samsung Pay consumers include:

  1. Convenience – users now have the ability to send money seamlessly 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.
  2. Transparency – all fees and exchange rates are included upfront so users know how much they will pay before securely transferring funds.
  3. Security – security, reliability and peace of mind are a top priority. This feature uses tokenised credentials and is backed by Samsung Knox security.

“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,” says 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. 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, Finablr CEO, says, “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. 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.”

Money Transfer in Samsung Pay is available now in the U.S. The service will be expanded to other markets in 2020.

Edited by Jenna Cook

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