
Samsung is enhancing its Wallet app with exciting new features set to launch later this year. These updates aim to improve the user experience by offering greater financial flexibility and convenience.
Tap to Transfer
The first notable addition is Tap to Transfer, a peer-to-peer payment functionality. This feature allows users to transfer money to another device simply by tapping the two devices together. Similar to Apple’s Tap to Cash, this feature will support third-party digital wallets and will be compatible with Android devices. Transactions will be processed through Mastercard and Visa via the associated debit card or account, ensuring secure and reliable payments.
Instant Installment
Samsung is also introducing Instant Installment, a buy now, pay later scheme. This feature facilitates purchases by turning payments into an “offline payment plan experience” available at physical stores or online. It’s important to note that Samsung is not becoming a credit provider; instead, the feature works with Visa and Mastercard credit cards. Samsung Wallet will help users manage their payment plan on their device, providing an overview of upcoming installment payments.
With the introduction of Tap to Transfer and Instant Installment, Samsung Wallet is poised to become a more versatile and comprehensive financial tool for users. These features offer greater convenience and flexibility in managing money and making purchases. By incorporating peer-to-peer payments and buy now, pay later options, Samsung is catering to evolving consumer needs and preferences. While details about Instant Installment remain somewhat unclear, the upcoming launch promises exciting new possibilities for Samsung Wallet users.