Samsung Pay adds remittance feature via Finablr platform

Samsung Pay has an international remittance feature, utilising a platform owned by Finablr, a London-listed Ripple partner.

Branded as Money Transfer, the service is currently available only in the US, except in Oklahoma, and will be rolled out to other countries in 2020. Finablr said the cooperation with Samsung Electronics America involves a new in-app feature that allows for the remittance of funds to foreign recipients.

Customers can initiate transfers using credit or debit cards registered with Samsung Pay, and the money can be sent to designated recipients as cash or to their bank accounts. The service is restricted to customers with Samsung devices.

Transfers can be sent to 47 countries, including Australia, Britain, Canada, China, Germany, Japan, Kenya, Mexico, New Zealand, the Philippines, South Korea, Spain, Thailand and Vietnam.

The payments themselves are actually handled by Travelex, the British company recently acquired by Finablr.

Source: The Paypers

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