Samsung Teams Up With Ripple Partner Finablr – Is XRP Involved?
Samsung is making some pretty interesting moves in the crypto space these days despite the fact that the crypto market doesn’t bring too much excitement at the moment.
Samsung teamed up with Finablr
Samsung Electronics America teams up with the UK-based payment platform and RippleNet member Finablr.
The companies are planning to add a new feature to the Samsung Pay mobile app.
This is called Money Transfer and will allow people to send money to 47 countries using various payment options.
“Samsung Pay users in the U.S. can use their existing eligible pre-registered debit or credit cards in Samsung Pay to safely and securely send money in most major currencies to their recipients via Finablr’s global network,” according to official notes.
These also details the fact that “The service leverages Finablr’s global reach and distribution capabilities, providing a wide choice of payout options tailored to the preferences of the recipient – from bank deposits to cash available for pick up.”
Cross-border payment tech gains more popularity
According to Finablr, the cross-border payment technology is currently serving more than 25 million people in 170 countries all over the world.
This company joined Ripple’s network of banks and payment providers back in December 2018.
Finablr’s UAE Exchange is currently using Ripple’s cross-border payments tech in order to power cross-border payments to Asia.
Sang W. Ahn, the vice president of content and services at Samsung Electronics America, says the partnership with Finablr is basically a part of a larger plan which has the main focus to expand the reach of Samsung Pay.
“Money Transfer is the first step in our vision to evolve Samsung Pay into a platform that makes users’ financial lives more convenient,” he said.
He continued and explained that “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.”
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.