Samsung Pay – the mobile-based payment project of tech heavyweight Samsung – has reportedly teamed up with payments platform Finablr – one active member of the RippleNet – to roll out cross-border payments upgrade Money Transfer.
As revealed on October 3 by Finablr, the new upgrade will grant customers the ability to experience “seamless and secure cross-border payments”, across 47 nations, via a wide array of means of payment, “all within Samsung’s native mobile wallet.”
Moreover, the users located in US of Samsung Pay are reportedly able to conduct money transactions, by using their debit or credit cards.
According to the update, all the fees and exchange rates will be revealed the first place, which will save customers from the trouble of finding out what they will be paying.
Samsung Knox has also implemented its tokenized credentials into the feature’s system, for a more strengthened security.
“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.” Sang Ahn, the VP and head of content and services division at Samsung Electronics America, further explained.