Samsung is expanding the list of issuers that support its mobile payments service. The company today announced that Samsung Pay is now available to TransferWise card members in the United Kingdom.
What this means is that TransferWise customers in the United Kingdom will now be able to add their debit cards to Samsung Pay. The mobile payments service can then be used to make payments via those cards.
Samsung Pay now works with TransferWise debit cards
TransferWise isn’t a conventional bank, it actually doesn’t even have a conventional banking license. It’s actually a challenger bank that offers electronic money accounts for individuals and businesses. These are multi-currency accounts that can send, receive, hold and convert multiple currencies all in one account.
You could hold both USD and GBP in the account and if you make a transaction in USD, the debit card will automatically charge the amount in the relevant currency so that you’re not hit with international transaction fees. It can also intelligently convert the currencies in your account to get you a better exchange rate compared to conventional banks.
TransferWise is widely used by businesses and individuals in the United Kingdom for precisely this purpose. They can now use their TransferWise debit Mastercard and the debit Mastercard for Business with Samsung Pay. Do note that only card members who have an address in the UK will be able to use their cards with Samsung Pay.
Once the cards are added, Samsung Pay users can leverage the power of their multi-currency accounts to hold more than 50 currencies at once and then use them in over 70 countries across the globe. The normal transaction limits for using the TransferWise cards will apply when using them through Samsung Pay.