TransferWise’s new debit card for the US fires the starting gun on a new war for travelers

International money transfer service TransferWise, has made a significant incursion into the US market today, launching a MasterCard debit card alongside a multicurrency account. Mirroring the card it has already launched in the UK and Europe last year, the card will work in over 40 currencies without balance limits, and conversion fees will be competitive with current exchange rates. A similar card aimed at businesses will follow the consumer launch.

Co-founder Taavet Hinrikus told me that the card effectively makes the average person able to act like a millionaire when they are traveling. “Alternative ‘travel’ cards are four times more expensive for every dollar spent and are only available to the top 10% of people who pass credit checks and also pay hundreds of dollars per year,” he said.

He believes this card will democratize the whole market. That means it’s likely that US tourists in Europe or elsewhere will be hugely attracted to this card because they will be charged as if they were a local person, in the local currencies, without all the normal fees.

Transferwise is also pushing an immigration angle to the launch featuring Tan France (pictured), star of “Queer Eye For The Straight Guy”.

Key features of the account and debit card include international bank details for the UK, the US, Europe, Australia, and New Zealand, meaning account and routing numbers that are unique to the account holder. Additionally, if a holder swipes a card in a currency they don’t have in their account, the card knows to choose the cheapest option from their available balances. The card is also free to get, with now no subscription, no sign-up fees, and no monthly maintenance fee. Holders can also freeze/unfreeze the card from the Transferwise app and receive push notifications every time they spend. It will also sync with Apple Pay, Google Pay, and Samsung Pay.

Hinrikus added: “Our goal is to offer bank details for every country in the world through one account — the world’s first global account — and we’re starting with five of the world’s top currencies. The 40-currency debit card completes the package, so we’re excited to be releasing the card in the US.

Earlier this year TransferWise said it was now valued at $3.5 billion after closing a $292 million secondary funding round. In November it reported an annual post-tax net profit of $8 million for the year ending March 2018. At the time it said it had five million users transacting $5 billion across its platform a month.

While Transferwise competes with the smaller Revolut and WorldRemit, as well as incumbents like Western Union and MoneyGram, with the launch of this new card it will also be breathing down the neck of Paypal.

Its investors include Old Mutual, Institutional Venture Partners, Andreessen Horowitz, Lead Edge Capital, Lone Pine Capital, Vitruvian Partners, BlackRock, Valar Ventures, Baillie Gifford, PayPal founder Max Levchin, and Virgin Group founder Richard Branson, among others.

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What startup names are most effective?

Samsung releases a trio of smart home products

Samsung’s approach to the smart home has been — “uneven” seems like a nice way of putting it. None of this has really been helped along by the fact that Bixby and the company’s long-promised smart speaker, the Galaxy Home, are still lost in the woods.

SmartThings, the home automation startup the company acquired in 2014, has been relatively steady under its watch, on the other hand. The brand just released a trio of products maintaining its focus on low cost entry points for the starter smart home.

Two, the SmartThings Cam and WiFi Smart Plug have the helpful bonus of not requiring a separate hub. The Smart Bulb, on the other hand, does require one, but that’s not particularly surprising given the $10 price point. Samsung’s SmartThings Hub currently runs around $70, by the way.

None of the new entrants looks particularly exciting. The $90 Cam shoots in 1080p at a 145 degree angle and switches into night vision when the lights are off. It can capture HDR footage and has two-way audio.

The Smart Plug does seem like a pretty solid bargain at $18 vs. Amazon’s $25. Plugging in lights, appliances and the like gives the user app and voice control with Alexa, Google Assistant and, of course, Bixby. All three of the above will work with all of the new products.

The Cam, Smart Plug and Smart Bulb are available starting today.

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Samsung’s Galaxy S10 5G arrives on Sprint tomorrow

You surely know the whole deal about carts and horses by now. When Samsung’s first 5G handset, the Galaxy S10 5G, arrives on Sprint tomorrow, users will be able to get those blazing fast mobile speeds in all of four markets: Atlanta, Dallas, Houston and Kansas City.

Those all launched last week, after the arrival of the carrier’s first 5G handset, LG’s V50 ThinQ. The good news is that a number of the biggest cities in the country will be getting coverage in “coming weeks,” including Chicago, Los Angeles, New York City, Phoenix and Washington D.C.

Samsung’s 5G phone hits Verizon, Sprint getting two 5G devices this month

The other good news, I guess, is that you can still use the phone in the rest of the country, albeit with 4G speeds. Of course, with an eye-popping unlocked starting price of $1,300, you’re probably not going to want to spend much of your time on LTE with the rest of us peasants. For those who prefer not to pay all up front, plans start at $40.28 a month.

Sprint joins Verizon and AT&T, which got the 5G Galaxy back in May and June, respectively.

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Samsung exec says the Galaxy Fold is ‘ready to hit the market’

As we asked back in February, “We’re ready for foldable phones, but are they ready for us?” The answer, so far, has been an enthusiastic, “not really.” The Galaxy Fold was pushed back after multiple review units crapped the proverbial bed. And just last week, Huawei noted that it was holding off on its own Mate X release, citing Samsung’s issues as a cautionary tale. 

Samsung, at least, may finally be ready to unleash its foldable on the world, two months after its planned release. “Most of the display problems have been ironed out,” Samsung Display Vice President Kim Seong-cheol told a crowd at an event in Seoul this week, “and the Galaxy Fold is ready to hit the market.”

Samsung Galaxy Fold review: future shock

The company’s no doubt waiting for a more formal announcement to release specifics on timing. Samsung has been promising release news “in coming weeks” for several weeks now. Understandably, the company hasn’t been rushing to get the handset back out. As bad as the press was the first time around, Samsung doesn’t want a repeat here along the lines of the Note 7’s two recalls.

When announcing the initial delay, Samsung announced two points of failure: a screen protector that looked like the temporary ones other devices ship with and large holes between joints in the hinge that allowed detritus to sneak behind the display, causing issues when users applied pressure to the front.

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Netflix reveals the top TVs it thinks you should use to binge watch in 2019

Netflix has a tradition, in practice since 2015, of annually proclaiming which TVs, of all the TVs in the land, are best suited to serving you its content. The streaming company’s criteria for determining ‘best’ is different from what you’d expect from The Wirecutter or Consumer reports – but if you’re a Netflix ride-or-die level fan, they might be the only criteria you really care about.

Without further ado, here’s the list of 2019’s Netflix Recommended TVs:

• Samsung Q60R/Q70R/Q80R/Q90R/Q900R series, RU8000, The Serif and The Frame devices
• Sony BRAVIA X85G/X90G series and A9G series
• Panasonic VIERA GX700/GX800/GX900 series

That list may seem short, and it is, relative to the number of TVs on the market that offer Netflix directly on device. But Netflix points out that the list can grow throughout the year depending on device and software update availability.

If, like me, you are an informed consumer who does a lot of research before making a large purchase like, say, a big-screen TV, you might be curious at the omission of LG’s OLED series, the 2019 iteration of which came to market just a couple of months ago. For a possible answer, let’s take a look at the criteria Netflix uses to make their list. (Note: I asked Netflix directly about LG and they provided a generic answer about brands dropping from the list year-to-year on occasion based on criteria and performance requirements).

Essentially, landing an official Netflix nod means that a TV can provide its user access to Netflix “within just a few seconds,” that it allows you to “quickly and easily” navigate between different apps, that it provides access to the most up-to-date version of Netflix, and that it gives you access to all Netflix’s laters features “for a better browsing experience.” In total there are 7 criteria, and a TV must meet 5 to be eligible for a Netflix recommendation.

Demo of how much faster Netflix loads on TVs that use the company’s ‘Always Fresh’ background activation feature. Bottom screen is with ‘Always Fresh’ active.

One criteria that’s new this year might be the one that’s put the ‘Recommendation’ out of reach for LG and webOS – it’s called ‘Always Fresh,” and it requires that a TV keep Netflix awake for an occasional background refresh, meaning it’s always primed and ready to go, with more or less instant playback regardless of network connection speed.

It’d be easy to knock Netflix for making this one of the conditions of receiving its recommendations (which are based solely on testing and meeting its standards – the company told me no money changes hands in this program), but it’s not barring companies that don’t meet these criteria from offering its service. And it’s using its market weight to help motivate TV makers to provide an experience that will genuinely be better for consumers.

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AT&T cancels Samsung Galaxy Fold orders

AT&T has cancelled early orders for the Samsung Galaxy Fold.

Tom’s Guide first reported the cancellation, noting that AT&T said the Galaxy Fold would be available again to order as soon as Samsung announces a new launch date. AT&T is also offer $100 in credit to those whose orders it has cancelled.

The Samsung Galaxy Fold was originally scheduled to launch on April 26. However, early reviews indicated that there were issues with the phone, which Samsung initially said was the fault of reviewers. The company eventually decided to postpone the launch and get back to the drawing board.

Earlier this week, a Samsung rep told Cnet that it would announce timing on the nearly $2,000 phone “in the coming weeks.”

However, AT&T’s move here suggests that it may be a while before the Galaxy Fold resurfaces, if at all.

Samsung itself asked customers who pre-ordered to confirm that they still want the device following the review period. On May 24, Best Buy cancelled all pre-orders of the phone.

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