Samsung has introduced a new feature in the Samsung Wallet app, a very useful one for all Galaxy phone users.
What is it about?
Known as Tap Transfer, this new feature allows users to send and receive money with a simple tap between their devices and those of friends or relatives.
Initially limited to payments in brick-and-mortar stores, the Samsung Wallet app now expands with this option.
Limited availability
For now, the feature is only available in South Korea. More than likely, it will be implemented on other continents in the future.
The entire process of sending and receiving money is simple: users just add their bank account details to the app, enter the amount and touch the back of their phones to each other to initiate the transfer.
How Tap Transfer works
This technology works through NFC. According to the company, data security is ensured by multiple levels of protection.
After initiating the process, the app asks for fingerprint verification of the sender. In addition, to protect the privacy of both parties, phone numbers are encrypted.
The sender will only be able to see the last four digits of the recipient.
Additional functionalities and expansion of banking support
It should also be mentioned that users can configure the app to receive money even when the phone screen is locked.
The service is currently supported by South Korea’s Woori Bank, and Samsung has confirmed that it is working on expanding support for other banks in the near future.
A promising future for Samsung Wallet
The utility of this feature in various everyday scenarios was brought up by a company official. For example, owners of Galaxy phones will be able to transfer pocket money to their children or make direct transactions for various items.
The company announced that in the near future it will include more everyday banking, such as quick transfer services, ATM deposits and withdrawals or adding accounts.
Other cool features
Recently, Samsung has also enriched the app with other features that allow users to customize their recharge cards as per their preferences.
This innovation makes mobile money transfers easier for users of Samsung Galaxy devices.
As technology continues to evolve, such functionality could become standards in the mobile payments industry.
Source: SamMobile
Source: www.go4it.ro
