Technology

Finablr Activates Money Transfer Feature on Samsung Pay

Published

5 years ago

05/10/2019

By Dipo Olowookere

A money transfer feature has been introduced on the Samsung Electronics America’s Samsung Pay platform by a global platform for payments, Finablr as part of a partnership between both organisations.

A statement by Finablr explained that this new in-app international money transfer service, a first of its kind in the U.S., offers users seamless and secure cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet.

The service combines Samsung Pay’s convenience, scale and security with Finablr’s international reach and 40 years of cross-border payment expertise to put mobile payments into the hands of millions of consumers, the firm said in the notice dated October 3 and made available to Business Post through AETOSWire.
It was learned that with the new feature, holders of Samsung Pay in the U.S. can use their existing eligible pre-registered debit or credit cards in Samsung Pay to safely and securely send money in most major currencies to their recipients via Finablr’s global network.

The service leverages Finablr’s global reach and distribution capabilities, providing a wide choice of payout options tailored to the preferences of the recipient – from bank deposits to cash available for pick up. This partnership marks a significant collaboration between Samsung and Finablr to launch such a service with global scale.

Money Transfer in Samsung Pay is available now in the U.S. The service will be expanded to other markets in 2020. It is powered by Finablr group company, Travelex, and offers Samsung Pay customers convenience, transparency and security.

According to the statement, the service gives users the ability to send money seamlessly to their recipients through a variety of digital and physical payout methods in 47 countries, with just a few taps on their phone. Consumers simply open the Samsung Pay app and the tools are right at their fingertips.

Also, with this service, all fees and exchange rates are included upfront so users know how much they will pay before securely transferring funds.

In addition, Finablr’s network of trusted brands, including Travelex, with its 40 years of experience in cross-border payments, and licensed by over 100 regulators globally, bring security, reliability and peace of mind to the Samsung Pay users of this feature, which uses tokenized credentials and is backed by Samsung Knox security.

“Our consumers are global and have friends and family around the world. Samsung is excited to enable users to send money from the US to the rest of world by making it simple, secure and transparent,” said Sang W. Ahn, Vice President & Division Head, Content & Services, Samsung Electronics America. “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.”

Promoth Manghat, Group Chief Executive Officer at Finablr, commented, “We are delighted to be partnering with Samsung to launch this new in-app cross-border payments capability. Underpinned by our integrated technology platform, this service demonstrates our ability to drive payments innovation. Combining our industry-leading network and pioneering technology with Samsung’s leadership in the mobile device market, allows us to innovate at a scale that is unique in the $127 trillion global cross-border payments market. This partnership advances our mission to meet the evolving needs of financial consumers and further strengthens our position as a partner of choice for global payments and technology companies.”

Technology

MTN Nigeria Revolutionises Urban Living With MyLagosApp

Published

5 days ago

20/03/2025

Aduragbemi Omiyale

By Aduragbemi Omiyale

A mobile application, MyLagosApp, designed to provide real-time updates on events, entertainment, hospitality, transport services and government-related payments, has been launched by MTN Nigeria in partnership with the Lagos State Government.

The digital platform was created by the Software Lab in MTN, according to the Chief Information Officer of MTN Nigeria, Shoyinka Shodunke, and is embedded with global security standards and practices with ISO 27001 certification.

At the launch of the app last Thursday, it was emphasised that security was a key priority in the design and development of the app to ensure the protection of user data and secure access to the app’s features and functionalities.

MyLagosApp, currently entitled MyCityApp on the app store, is available for download on both Android and iOS platforms. Users have been encouraged to download it to experience firsthand how urban living in Lagos has been transformed with the app.

The Deputy Governor of Lagos, Mr Obafemi Hamzat, while speaking at the unveiling of the app, reinforced the government’s commitment to leveraging technology for enhanced city management and connectivity.

He described it as a demonstration of the administration’s dedication to enhancing the lives of citizens through technological innovation.

“I commend the collaboration between MTN Nigeria and the Lagos State Government, alongside other key stakeholders, for making this vision a reality.

“This partnership is a testament to the power of technology in bridging the gap between the public and private sectors to drive innovation and improve lives.

“The app serves as a vital link between the government and the people, simplifying access to public services, providing real-time updates, and promoting transparency and accountability in governance.

“Whether you need to navigate government processes, access essential city services, or stay informed about key developments, MyLagosApp places all the information you need right at your fingertips,” Mr Hamzat said on behalf of Governor Babajide Sanwo-Olu.

On his part, the chief executive of MTN Nigeria, Mr Karl Toriola, said, “As we embrace the future of e-governance, digital entertainment and commercial innovation, initiatives like this are essential in making Lagos a truly smart city, and we are proud to partner with the Lagos State Government to drive digital transformation and enhance urban living.

“With the launch of MyLagosApp, we are leveraging technology to simplify access to essential services, improve connectivity, and create a smarter, more efficient Lagos for residents and visitors alike.”

Technology

Data Privacy: Nigeria Launches Investigation into TikTok, Truecaller

Published

5 days ago

20/03/2025

Adedapo Adesanya

By Adedapo Adesanya

The Nigeria Data Protection Commission (NDPC) has launched an investigation into the data processing practices of Tiktok and Truecaller, amid growing concerns over potential privacy violations.

This was disclosed, the chief executive of NDPC, Mr Vincent Olatunji, at a press conference in Abuja, where he also announced the issuance of the Nigeria Data Protection Act – General Application and Implementation Directive (NDPC act – GAID 2025).

According to Mr Olatunji, the commission is particularly concerned about how these platforms handle Nigerian users’ personal data, including potential breaches of consent, data sharing with third parties, and overall compliance with the Nigeria Data Protection Act (NDPA), 2023.

He said the NDPC is actively investigating the data processing activities of Tiktok and Truecaller to ensure their compliance with Nigeria’s data protection laws.

He noted that the goal was to safeguard the privacy rights of Nigerians and hold organizations accountable for how they collect, store, and use personal data.

The investigation follows increasing scrutiny of global technology companies over data privacy concerns, particularly regarding how personal information is processed, stored, and transmitted beyond national borders.

The NDPC act – GAID, 2025 provides a comprehensive framework for the implementation of Nigeria’s data protection law, setting out specific guidelines for compliance, enforcement mechanisms, and obligations for both private and public sector organisations.

He emphasized that the directive aims to strengthen Nigeria’s digital economy by fostering trust in data governance while ensuring that individuals’ rights to privacy are upheld in line with international best practices.

Mr Olatunji further reiterated that companies operating in Nigeria must align with the country’s data protection regulations or face regulatory actions, including fines and potential restrictions on their operations.

The NDPC has called on the public to report any data privacy violations and reaffirmed its commitment to transparency and due process in its investigations.

The agency stated that reporting data breaches have become easier with dedicated channels of reaching out to the commission from its official website.

Technology

Google Urges Nigerian Businesses to Drive Growth With AI Tools

Published

5 days ago

20/03/2025

Adedapo Adesanya

By Adedapo Adesanya

Google has intensified calls for Nigerian businesses to tap into the potential of artificial intelligence (AI) as data shows how it is fundamentally transforming consumer behavior and creating unprecedented opportunities.

According to Mr Brendon Kraham, Vice President of Search and Commerce, Global Ads Solutions, the numbers show that Google products around the intersection of searching, streaming, scrolling, and shopping can help position businesses for growth.

Amid Nigeria’s economic challenges, technology is proving to be a pathway to drive brand awareness that resort to action.

“We’re observing a significant evolution in how people interact with technology and brands. This evolution is driven by AI and characterized by a multi-modal consumer journey, where searching, streaming, scrolling, and shopping seamlessly intertwine,” Mr Kraham stated.

He added that AI is now powering businesses when it comes to modern search and advertising with Google’s AI Overviews, powered by Gemini, demonstrating how AI can provide richer, more conversational answers, leading to increased user engagement and exploration.

“This shift is reflected in the fact that 15 per cent of daily searches on Google are new, indicating a growing demand for complex, nuanced information,” he explained, adding that, “AI is supercharging search, and allowing for new ways to search, such as with images and voice.”

He explained that for consumers, there has been rising reliance on searching, streaming on YouTube, scrolling through Shorts, and shopping across Google’s platforms evidenced by the rise of visual search with Google Lens, where nearly 20 billion monthly searches demonstrate the power of seeing and searching.

“YouTube’s dominance in streaming, particularly on connected TVs, and the rapid growth of Shorts, further underscore this trend,” he noted.

Mr Kraham stated that Google and YouTube hold a unique position of trust, guiding consumers throughout their purchase journeys with data showing that over a billion daily shopping interactions occur and billions of hours of YouTube content watched.

He called for businesses to leveraged AI-powered tools like Performance Max and Demand Gen to achieve tangible outcomes, painting two success stories in the form of FairMoney and Wakanow.

FairMoney was able to quantify the incremental value of its Google App Campaigns for installs, seeing a 47 per cent increase in installs, 30 per cent increase in loan applications, and a 24 per cent increase in loans disbursed while Wakanow, an online travel platform, saw double booking revenue and achieve a tenfold increase in booking volume, according to data shared with Business Post.

“Marketers who have deeply integrated AI tools report 60 per cent greater revenue growth (BCG),” Mr Kraham noted.

Showing more data, he noted that there was a strong positive outlook on AI’s potential, with 87 per cent believing its benefits outweigh the risks, adding that a vast majority of Nigerians anticipate AI’s positive impact on the economy (81 per cent) and crucial sectors like science and medicine (90 per cent).

“The multi modal consumer journey, with the integration of shopping, search, and video, is very relevant in Nigeria, which is a very mobile first market. The growth of visual search and AI powered shopping tools, will greatly assist Nigerian consumers and businesses,” he said.