Samsung turns NFC into a money sender
Samsung is introducing a contactless Tap to Transfer feature in its Wallet app in the US later this month, allowing users to send money directly to others’ bank accounts or debit cards using NFC technology.
The feature enables users to transfer funds from Visa or Mastercard debit cards stored in Samsung Wallet to another person’s digital wallet or physical debit card, provided the card’s chip supports tap-to-pay.
The feature enables users to transfer funds from Visa or Mastercard debit cards stored in Samsung Wallet to another person’s digital wallet or physical debit card (Image: Samsung)
This peer-to-peer payment method eliminates the need for third-party services like Venmo or Cash App and works with any digital wallet, not just Samsung Wallet.
Users can also send money to other Samsung Wallet users remotely by searching for their phone number associated with their Samsung account. The Tap to Transfer feature simplifies splitting bills among large groups and reduces the time spent setting up new recipients.