Samsung Wallet Adds “Tap to Transfer” for P2P Payments
Samsung Electronics America announced yesterday the upcoming launch of a new “Tap to Transfer” feature for its Samsung Wallet application. Set to roll out later this month in the United States, this innovative functionality promises to streamline peer-to-peer (P2P) payments, making it faster and more convenient to send money to friends and family.
Instant Payments with a Tap
The new feature aims to eliminate the hassle often associated with splitting bills or repaying debts. According to Samsung, funds transferred using “Tap to Transfer” will arrive within minutes, negating the typical delays of traditional bank transfers. This instant transfer capability is achieved through Samsung’s strategic collaborations with major payment networks Visa and Mastercard.
Users with debit cards stored in their Samsung Wallet can now make payments more easily. To begin with, they simply need to tap their device against the recipient’s debit card or another Samsung Wallet-enabled device. This is possible thanks to NFC (Near-Field Communication) technology. In fact, Samsung Wallet can connect directly to the recipient’s debit card, even if they don’t use a digital wallet. However, the recipient’s physical card must support tap-to-pay functionality for the connection to work.
This process mirrors the familiar tap-to-pay experience used in retail transactions.
For instances where the recipient isn’t physically present, Samsung Wallet offers a remote transfer option. Users can easily locate their contacts with Samsung accounts by searching their phone numbers within the app.
Expanding the Utility of Samsung Wallet
Beyond P2P payments, Samsung Wallet aims to be a comprehensive digital hub for users’ essential items. The application already allows users to store digital versions of their driver’s licenses, credit cards, loyalty cards, boarding passes, gym memberships, gift cards, and even student IDs.
For more detailed information about Samsung Wallet features and device compatibility, interested individuals can visit the official website.
