The ill Aesthetic
Samsung Wallet Adds ‘Tap to Transfer’ for Faster P2P Payments
New P2P Feature Launching This Month
Samsung is rolling out a new feature that could streamline how Galaxy users in the United States send money. Later this month, Samsung Wallet will introduce Tap to Transfer, a peer-to-peer (P2P) payment option. This feature enables users to initiate transactions simply by bringing two NFC-enabled smartphones close together.
Third-Party Apps No Longer Needed
Importantly, the move eliminates the need for third-party apps like Venmo or Cash App. Users will now be able to complete direct debit card transfers within the Samsung Wallet ecosystem. This new capability is the result of a strategic collaboration with Visa and Mastercard. Initially, only debit cards issued by these providers will support the service.
Samsung Wallet is a powerful tool readily available on millions of Galaxy smartphones, and with this update, we’re taking the experience to the next level…Many users want the flexibility to accomplish their most frequent and important tasks on their mobile device. Samsung Wallet will help make payments to friends and family quick and convenient. – Drew Blackard, Senior Vice President at Samsung.
Tap to Transfer: Contactless and Convenient
Notably, Tap to Transfer will support contactless transactions with individuals who don’t use a digital wallet, provided their debit card includes tap-to-pay capabilities. Thanks to NFC technology, Samsung devices can interact directly with the chip on the physical card. This setup enables seamless and secure money transfers.
Remote Transfers Also Supported
Furthermore, if the recipient isn’t nearby, Samsung Wallet users will have the option to send funds remotely. They can do this by locating the recipient’s Samsung account via phone number. Although Samsung hasn’t confirmed universal compatibility, the use of NFC suggests the potential for future interoperability with other digital wallets.
Coming Soon: End of May Release
In conclusion, the Tap to Transfer feature is slated to roll out in the U.S. by the end of May. This launch is expected to enhance Samsung Wallet’s position in the increasingly competitive digital payments market.
Learn More: