Fintech expert Finablr partners with Samsung Pay over cross-border payments

Provider of cross-border payments, FX and payment technology Finablr PLC (LON:FIN) today announces a partnership with Samsung Electronics America. The companies unveil the launch of the Money Transfer feature in Samsung Pay.

This new in-app international money transfer service offers users seamless and secure cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet. Money Transfer in Samsung Pay is currently available in the US and is set to be expanded to further markets in 2020.

Promoth Manghat, Group Chief Executive Officer at Finablr PLC, commented:

“We are delighted to be partnering with Samsung to launch the new in-app Money Transfer service. Underpinned by our integrated technology platform, this service demonstrates our ability to drive payments innovation worldwide, in line with the strategic and financial outlook provided for our B2B and Payments Technology Solutions business at the time of IPO. Combining our industry-leading network and pioneering technology with Samsung’s leadership in the mobile device market allows us to drive innovation at a scale that is unique in the US$127 trillion global cross border payments market. The launch of this product advances our mission to meet the needs of financial consumers and further strengthens our position as a partner of choice for global payments and technology companies.

Finablr got admitted to trading on the London Stock Exchange in May 2019. Finablr is a global platform which provides Cross-Border Payments and Consumer Solutions, Consumer Foreign Exchange Solutions and B2B and Payment Technology Solutions to consumers and businesses in the large and growing payments and foreign exchange market. In the year ended December 31, 2018, Finablr processed more than 150 million transactions and the U.S. dollar equivalent of U.S.$114.5 billion in volumes, touching over a billion lives.