Samsung announced the arrival of international money transfers into Samsung Pay this morning, supported by Travelex, a Finablr company.
Samsung Pay is basically a payment technology that allows you to pay with your credit or debit card over your phone without carrying a credit card with NFC technology. Even though it was too late last year, Samsung Pay, which received Paypal support, brought the opportunity to buy transportation tickets in New York after Paypal, but it remained behind its competitors like Apple Pay and Google Pay no matter what they did. Samsung’s payment service now offers the ability to transfer money internationally.
Money transfer to 47 different countries
Samsung Pay users in the US will be able to transfer money to accounts in 47 different countries, including India, Mexico, China, and the Philippines, with new payment options including bank deposits and cash collection. Samsung said this would be the first in-app international money transfer service for users with a local mobile wallet in the US. Mobile payment services are popular in countries such as India and China but are not yet popular in Europe or North America.
The payment service will be supported by Travelex, the foreign exchange company owned by the Finablr payment platform. The application will show users all payments and exchange rates. Samsung also stated that the recipient does not have to be a Samsung Pay user when you send money to someone in any country. The money transfer feature at Samsung Pay is now only available to users in the United States, but the company plans to expand it to other countries next year.