Samsung Pay is gaining a couple of new tricks this week.
First up, Samsung Pay Cash lets you easily add money to a virtual prepaid card. The Samsung Pay Cash card works wherever Samsung Pay and Mastercard are accepted, including online retailers, and using it will earn you Samsung Rewards points that you can redeem for Samsung products and instant win prizes. Samsung Pay Cash also works for in-app person-to-person payments.
Samsung Pay Cash is available in the wallet of your Samsung Pay app on all Samsung Pay-compatible devices, which includes the Galaxy S6 or later. You can add cash to use using an in-app debit or credit card or with an ACH transfer from an external bank account.
Also announced today is Money Transfer. This feature lets you transfer money internationally to 47 countries using your Samsung Pay app and your eligible debit or credit cards. Samsung is working on this feature with Finablr, a company with 40 years of experience with cross-border payments.
There are a variety of payout methods available when making international money transfers through Samsung Pay. These physical and digital options include bank deposits and cash available for pickup.
These new features sound like solid additions to Samsung Pay. The Samsung Pay Cash card gives you an easy, in-app way to manage the cash you’re spending without having to worry about overdraft fees or other charges you may get from a traditional debit card. Meanwhile, Money Transfer aims to make it easy to securely send money internationally while giving the recipient a choice of how they’ll get paid.