News by Cointelegraph: Adrian Zmudzinski

Samsung Pay, the mobile payments service of South Korean tech giant Samsung, has partnered with payments platform Finablr, Ripple’s RippleNet member, to offer cross-border payments feature Money Transfer to its app’s users.

Finablr announced the partnership on Oct. 3, claiming that the new feature “offers users seamless and secure cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet.”

Furthermore, United States-based Samsung Pay’s clients reportedly can use their debit or credit cards to send money via the service.

Tokenized credentials

Per the release, all the fees and exchange rates are included upfront, allowing users to know in advance what they will be paying. The system’s security also employs tokenized credentials backed by Samsung Knox. Sang Ahn, the vice president and head of content and services division at Samsung Electronics America, added:

“Money Transfer is a first step in our vision to evolve Samsung Pay into a platform that makes users’ financial lives more convenient. 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.”

An increasingly competitive space

Lastly, while the Money Transfer feature is now rolled out to the United States userbase, the new service will be expanded to more markets next year, the press release states. According to company information website Crunchbase, Finablr was founded in April 2018 and has $5 million in estimated revenue annually.

As Cointelegraph reported on Feb. 26, multi-currency money-sending app Circle has announced that it acquired major US-based cryptocurrency exchange Poloniex for $400 mln.

Empowering Blockchain Summit, a platform to find solutions and share insights on the better way of applying the blockchain technology into the overall industry in Indonesia with other Southeast Asian countries, will be held in Jakarta, Indonesia on September 13 and 14.

 

Powered by Chainway, an Indonesia-based blockchain business platform, the inaugural summit will bring major companies’ leaders, founders and developers together to build momentum and to engage in a discussion about the future of blockchain industry.

 

Chainway is a newly founded blockchain enterprise in Jakarta for linking global blockchain businesses with Indonesian blockchain industries and providing business solutions.

 

The summit will feature high-profile figures in global blockchain and crypto asset world. Some of the biggest partners are BINANCE, Samsung SDS, INDODAX, Samsung Electronics Indonesia, QCP Capital, SolidBlock and Gopax Indonesia.

 

On the first day, the most influential global players in blockchain and crypto asset industries will share the outlook of the blockchain industry and the practical ways of applying it to the public and private sectors. There will also be minister-level government officials to speak about the near future industry with blockchain technology and the prospects of the regulation framework.

 

The second day will focus on what is happening in the blockchain market and the survival strategies. Furthermore, BINANCE Super Meetup will take place for discussing and sharing on trading, blockchain technology and other BINANCE features with its distinguished speakers.

 

The summit will be held at Sheraton Grand Jakarta Gandaria City Hotel. The summit is currently receiving registrations for tickets. The standard tickets cost $150 while early bird tickets cost $100. The deadline for early bird registration is September 8.

 

Visit empoweringblockchainsummit.com for more information.