Later this year, Samsung is rolling out a new way to send money that feels as instant as tapping to pay at a checkout terminal. With its new Tap to Transfer feature, you can send funds by simply tapping your Samsung phone to another phone or even to a physical debit card. There’s no need for the recipient to download an app, share contact information, or even use a Samsung device. They can receive the money if they have a debit card, either stored in their digital wallet or the physical card itself.
Flexibility is what makes Tap to Transfer unique. Peer-to-peer apps, like Venmo or Zelle, require both parties to sign up or log in. Samsung’s approach removes that extra step. As long as you have a compatible Samsung Galaxy phone with Samsung Wallet and the other person has a debit card, the money can go through.
Here’s how it works: When you initiate a transfer, you simply bring your phone near the recipient’s phone or card. Samsung uses NFC (Near Field Communication) and a “push-to-card” protocol to initiate a secure connection. The recipient then physically taps a debit card or their phone to the back of your phone. Visa and Mastercard are both on board, which should ensure broad debit card support.
Read more: Skip the Wallet – TSA Now Accepts Digital IDs on Your Phone
There are still open questions. What will the fees be? What are the transaction limits? Those will vary and be determined by your financial institution.
At launch, Tap to Transfer will be a U.S.-only feature. And while sending money is limited to Samsung phones, it lowers the barrier for receiving money. You don't have to hand out your email, phone number, or download an app just to accept a quick payment. Tap to Transfer won’t replace peer-to-peer platforms for everyone, but it’s an interesting alternative that gives people more choice.
[Image credit:Samsung]
