Payments

Samsung Pay offers international money transfers for US users

Samsung has teamed up with financial technology firm Finablr on a money transfer service for its payments app

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  • According to Samsung, the new feature is the first to offer foreign exchange in a native mobile wallet in the U.S;
  • U.S. Samsung Pay users can send money to people in 47 different countries.

According to CNBC, Samsung has teamed up with Travelex, a subsidiary of financial technology firm Finablr on a money transfer service for its payments app. 

U.S. users of Samsung Pay will be able to send money to people in 47 countries including India, Mexico and China, with the option to deposit directly into a recipient’s bank account or transfer to a local cash pickup point.Users will also be able to see the transfer fee and exchange rate upfront before paying someone.

Both companies claimed the new feature is the first to offer foreign exchange in a native mobile wallet in the U.S. According to CNBC, Google Pay currently lets people transfer funds within the U.S., while Apple Cash supports sending money through iMessage.