The feature is already available in the US and could soon hit other countries, too.
Samsung is releasing its latest Samsung Wallet feature, Tap to Transfer, to its American users.
The feature allows peer-to-peer (P2P) payments. The company first announced the feature at the beginning of May and will be released this week.
Samsung partnered with Visa and Mastercard so users can send money to family and friends using their debit cards.
To make this possible, Samsung Wallet uses NFC technology to connect to the recipient’s bank card, which is already stored in a digital wallet – either a Samsung, Google, or Apple Wallet.
Tap to Transfer also allows recipients with a debit card supporting tap-to-pay.
Tap to Transfer will also work with physical debit cards that support tap-to-pay. The feature will have a connecting chip, so Samsung Wallet can be used to transfer money in a similar way to a card reader.
Regarding fees, the company notes that “for a limited time,” Samsung Wallet users won’t be charged for the Tap to Transfer. The free period takes place from May 30th to July 24th.
The company also shared that “a 1.75% fee (minimum of $0.25 cents) is applied to each transaction. The fee only applies to the sender.”
Besides Tap to Transfer, Samsung users also use its Wallet to store their credit cards, driver’s licence, membership cards, boarding passes, and more.
With Tap to Transfer, Samsung users in the US won’t need to rely on third-party apps to transfer the money, reports Android Central.
The feature, which is currently available in the US and South Korea, is expected to be released in other countries, too.
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