Samsung Pay — the tap-to-pay payment service that uses an NFC-enabled smartphone has been slow to catch on. In 2018 it finally got Paypal backup and now have the ability to purchase transport tickets in New York City.
The whole idea never got anywhere next to the popularity of key players like Apple Pay and Google Pay. But right now, Samsung is looking to appeal to frequent travelers and people with family outside of the United States by introducing a cross-border payments feature so it can possibly become popular.
That is to say people who patronize Samsung Pay in the United States will be able to transfer money to accounts in 47 different countries including India, Mexico, China and the Philippines, with payout options including bank deposits and cash collections.
With that, Samsung assured that its app will be the first in-app international money transfer service for people with a native mobile wallet in the United States. Though mobile app payments services are already popular in countries like India and China but not that much in European countries.
The mobile app payment service is powered by Travelex, a foreign exchange company that is owned by the Finablr payment company. Note that the app will show you all the fees and exchange rates, the payments will be subject to up front before any cash is transferred, and recipients mustn’t really be Samsung Pay users.
The mobile app cash transfer feature in Samsung Pay only rolled out to United States users and the tech giant hope to expand to other countries by 2020.