A few days ago, we spotted that Samsung has begun a trial program on an invite-only basis for a Buy Now, Pay Later (BNPL) service for Samsung Wallet in the US. While the trial program doesn’t go live until next week, some people have gotten early access, likely through reverse engineering. Screenshots posted online show how the feature will work. This “leak” also confirms the impending launch of Send Money in Samsung Wallet.
Samsung Wallet’s new features emerge ahead of launch
Samsung aims to make sending payments easier through its Samsung Wallet app. The Send Money feature lets users transfer money online or by tapping another phone or a debit card. The system deposits the money directly into the bank account connected to the recipient’s debit card.
The “Tapping Another Phone” functionality is not new — last year, Samsung introduced a similar functionality called “Tap to Transfer” in South Korea. It allows Galaxy users to send and receive money by simply tapping the two devices together. While not many details are known for this US-specific feature at the moment, it should use NFC technology to recognize the receiver and sender to initiate a transaction. This makes the entire transfer process more convenient.
Now, coming to the Installment Payments feature, also known as Samsung’s BNPL service, it lets users set up a payment plan as per their needs. The company has partnered with Splitit, a global payment solution provider that offers installment services to buyers using their existing credit cards.
With Installment Payments, Samsung Wallet users will be able to split in-store purchases into manageable payments over time using their existing credit card.
While it does not require a hard credit check, Splitit will perform a soft credit check to assess eligibility. This type of check does not impact the user’s credit score. The feature is available for all Visa and Mastercard credit card purchases.
The early access program goes live soon
Both the Send Money and Installment Payments features should soon roll out to users in the US who participated in the trial program. You can try out these features if you see the banner titled “Early Access for Installment Payments” in the Wallet app. The early access program runs through June 6, 2025. Samsung should then push the features to all Samsung Wallet users in the US.
