Samsung Wallet is taking another step forward in mobile payments. Samsung has announced a new feature that is rolling out that makes transferring money between Galaxy phones as easy as a tap. Tap Transfer is debuting in South Korea but should soon expand to other countries.
How Does ‘Tap Transfer’ Work?
Galaxy smartphone users can send and receive money by tapping their phones together. Yes, it will remind you of Apple’s NameDrop and Tap to Cash feature. It uses NFC (Near Field Communication), the same technology behind contactless payments. Update to the latest version to get it.
Here’s how it works:
- Open the Samsung Wallet app and link your bank account.
- Enter the amount you want to send, and tap your phone against the other person’s phone.
- The transfer will happen once you verify your identity through a fingerprint or other biometrics.
Right now, Woori Bank is the first to support this feature, but Samsung has plans to bring more banks on board soon, making it easier for more users to benefit from the feature.
Also Read: 21 Best Tips and Tricks for Samsung Galaxy Phones
Enhanced Privacy and Convenience
Samsung has paid attention to privacy while developing Tap Transfer. Both the sender’s and receiver’s phone numbers are encrypted. Moreover, only the last four digits of the recipient’s number will be visible to the sender.
You can set up Samsung Wallet to accept cash transfers even when your phone is locked. So no need to unlock your phone every time someone sends you money.
Why ‘Tap Transfer’ Could Be a Game-Changer
A Samsung official says this feature is perfect for everyday money exchanges, such as sending money to friends or families. Samsung is also planning to add more features to its Wallet app like ATM deposits, withdrawals, and additional account management options.
Samsung Wallet: More Than Just Payments
Samsung Wallet already lets you store your credit cards, boarding passes, digital keys, and more. And with Tap Transfer, soon Galaxy users will have an easy way to send money with just a tap. What are your thoughts on this new feature? Let us know on X (formerly Twitter).
