Published: Fri, October 04, 2019
Electronics | By Kelly Massey

Samsung Pay adds virtual debit card and worldwide money transfers

Samsung Pay adds virtual debit card and worldwide money transfers

Last but not least, it's certainly worth pointing out that early Samsung Pay Cash adopters have a little something, something to gain from signing up for a "virtual prepaid cash card". You can even effortlessly send money from your Samsung Pay Cash card to contacts in your phone.

Samsung Pay Cash is a virtual prepaid cash card that you can load up with money and use just like Samsung Pay.

"We envision a future in which people can leave their cash and cards at home, take care of everyday financial matters easily, and earn rewards all along the way".

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This is a major blow to the users who are using the Mate 30 devices outside China as the only workaround known has been shut down.

Initially, the money transfer feature will launch for users in the US and Samsung plans on expanding it to more countries next year. Services like Samsung Pay make it simpler by enabling contactless payments. They can send money in most major currencies. Like Samsung Pay, Samsung Pay Cash can be used everywhere where you can swipe a card. The funds never expire, and there is no penalty fee for inactivity. The service is powered by a foreign exchange company called Travelex which is owned by the Finablr payment platform.

With Money Transfer, you can send money from the United States to 47 countries with digital and physical payout methods available t the recipient. Recipients can choose to receive money as bank deposits or cash payments at select locations.

Travelex has more than 40 years of experience in worldwide payments and Samsung Pay offers tokenized credentials and Samsung Knox security.

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