Previously, Samsung Wallet was only capable of making mobile payments at physical stores for purchases. However, the app can now be used to send and receive money with a simple tap. The feature is currently rolling out in South Korea and may come to other countries in the future.

Use Samsung Wallet’s “Tap Transfer” feature to send and receive money between Galaxy phones

Samsung Korea has announced that it is introducing a new feature called “Tap Transfer” to its Wallet app. This will allow Galaxy phone users to send and receive money by touching the backs of two Galaxy phones together.

The new feature works via NFC and will be enabled as soon as the Samsung Wallet app is updated to the latest version.

If you want to use your Galaxy phone to transfer money to someone else using Samsung Wallet, you will need to enter your bank account information into the app, enter the amount you want to transfer and touch the back of your Galaxy phone to the back of the other person’s Galaxy phone. Samsung Wallet will then ask you to confirm using biometrics.

This feature is currently supported by Woori Bank. Samsung has confirmed that it will support other banks soon.

To improve the privacy of both parties during the transfer, the phone number is encrypted and only the four digits of the recipient's phone number are displayed to the sender.

Users can set up the Samsung Wallet app to receive money through the Tap Transfer feature even when the phone is locked.

“We hope that Samsung Wallet's 'Tap Transfer' function will be used in situations where transfers are needed, such as direct transactions for used items and child allowances. We will continue to expand the functions with frequently performed daily tasks, such as adding money to the account, ATM deposits and withdrawals, and transfer services so that users can easily enjoy a convenient mobile financial life with Samsung Wallet.”

—A Samsung Electronics official said

Samsung recently added the Samsung Pay Recharge Card Decoration feature to Samsung Wallet, allowing users to decorate their cards to their liking. After Ajou University and Sungkyunkwan University were supported, students at Pohang University of Science and Technology (POSTECH) can also use the University Student ID feature.