Samsung announced this morning that international money transfers have arrived inside of Samsung Pay, powered by Travelex, a Finablr company.
Much like using Samsung Pay itself, sending money outside of the US should be relatively easy, with users now able to send money directly from their already-registered credit and debit cards to 47 different countries across the world. Thanks to Finablr’s distribution capabilities, money recipients will have plenty of payout options, including bank deposits and cash pickups.
For now, this feature is only available for Samsung Pay users in the US. It’s expected to roll out to additional markets in 2020.
Update: Shortly after announcing this, Samsung also announced Samsung Pay Cash, built in partnership with Mastercard. Samsung Pay Cash is a virtual prepaid cash card in the wallet of your Samsung Pay account. With it, you can set a budget and use funds from that particular account, and just like Samsung Pay, you can use it practically anywhere you can swipe a card.
Unlike a gift card, Samsung Pay Cash can be used anywhere Samsung Pay and Mastercard are accepted – including with e-commerce retailers. And when you use Samsung Pay Cash to shop, you earn Samsung Rewards points; points can be redeemed for Samsung products, instant win prizes, and more.
For more Samsung Pay Cash details, look here.