Samsung has announced it’s launching a new way to send money using your Galaxy phone, and it doesn’t even require an app on both sides. The new Tap to Transfer feature is rolling out to Samsung Wallet users in the US later this month, offering a fast and simple way to send money to friends and family. It follows South Korea launch last year.
Samsung Wallet launches Tap to Transfer, coming to US later this month
Tap to Transfer is built into the Samsung Wallet app and uses NFC to send money between users. If both people have Samsung phones with Wallet installed, a quick tap is enough to start and complete the transfer. The money usually arrives in the recipient’s bank account within a few minutes, depending on the bank.
What makes Samsung’s feature stand out is its flexibility. If the person receiving the money does not have Samsung Wallet or even a phone nearby, you can still send money by tapping your Galaxy phone to their contactless debit card. The system reads the card’s chip and processes the payment as long as it is a Visa or Mastercard debit card from a supported bank.
Samsung has also made it possible to send money remotely. You can search for a person’s phone number within the Wallet app and send money without needing to meet in person. The new feature is part of Samsung’s goal to make Wallet more useful in everyday life. It already holds things like IDs, tickets and loyalty cards. Now it also serves as a simple way to send money.
Some limitations will apply, of course. Not every debit card will work at launch and some banks may charge fees or place limits on transfers. Still, for Galaxy users, Tap to Transfer could replace the need to use separate apps for splitting bills or paying friends.
