Payments

New cross-border payments come to Samsung Pay and Brex

  • Cross border payment integrations are becoming more popular.
  • Now, Samsung Pay and Brex have partnered with international money transfer firms.
New cross-border payments come to Samsung Pay and Brex

There continues to be friction around cross border payments. To improve their customers’ experiences, banks and payments companies are teaming up with cross border specialists to roll out this functionality to their clients.

Samsung Pay is announcing a new partnership with Travelex that will integrate a cross-border transaction service, Money Transfer.

  • This new in-app international money transfer service offers users cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet
  • Samsung Pay users in the U.S. can use their existing eligible pre-registered debit or credit cards in Samsung Pay to send money in most major currencies to their recipients via Finablr’s (Travelex’s parent) global network.

Brex cardholders can now use Payoneer to pay vendors internationally instead of using international wire transfers.

  • Payoneer, the cross-border payment firm, has unveiled a collaboration with Brex, adding to their expansive ecosystem of partners who support SMB growth.
  • With this new partnership, Payoneer expands the array of tools available to US businesses doing business globally.
  • Brex for Startups cardholders can earn 3 percent rewards on their first $100,000 in international payments, while Brex for Ecommerce cardholders earn 2 percent.
  • The partnership requires a Brex cardholder to first sign up for Payoneer. Then, by making international payments with his card, he earns Brex Rewards.

These partnerships come just a week after TransferWise announced the rollout of TransferWise for Banks in the US.

  • TransferWise for Banks allows banks, credit unions and other financial institutions to integrate TransferWise’s API directly into their infrastructure, so customers can make international payments from within their banking apps.
  • Along with the Stanford Federal Credit UnionNovo is one of the international money transfer firm’s first US partners.
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Behind the launch of Central Payments’ Falls Fintech accelerator with Trent Sorbe

  • Smaller financial institutions are finding ways to compete against large banks.
  • Central Payments, part of the Central Bank of Kansas City, is a good example.
Zack Miller | October 17, 2019
Payments

Intuit QuickBooks and Visa give small businesses real time access to funds

  • New Instant Deposits feature improves cash flow for SMBs with faster access to payments
  • Visa Direct powers real-time payments and disbursements in a variety of industries.
Michael Deleon | October 09, 2019
Member Exclusive, Payments

Research: Popularity of mobile payments is creating new retail payment use cases

  • The global payments industry is taking strong steps towards an ecosystem approach.
  • Take up of open banking has been lukewarm, so payment players should prioritize strategies within these new parameters.
Zoe Murphy | October 08, 2019
Member Exclusive, Payments

Reloadable prepaid cards act as a fertile platform for innovation

  • The reloadable prepaid card market was robust before new retailers joined in.
  • An increasing number of brands are issuing them to engage with their customers.
Sara Toth Stub | October 02, 2019
Payments, Podcasts

Square’s Carl Perry on the new Orders API and the direction of the Developers Platform

  • Square's developer platform recently launched its Orders API.
  • This move signals the firm's expansion from payments into owning the entire transaction.
Zack Miller | September 19, 2019
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