Samsung Galaxy owners in the US can now transfer funds directly to a contact’s bank account by just tapping their two phones together — or by simply bringing the recipient’s contactless bank card into close proximity.

“Samsung Wallet’s new feature, Tap to Transfer, enables you to send money to your friend’s or family member’s bank account associated with their debit card — even if they use Apple Wallet or Google Wallet. Just tap phones and they’ll be sent the funds within minutes,” Samsung says.

“It’s the first ever feature that allows you to send funds to another user’s debit card or smartphone, regardless of their wallet or operating system.”

“Through Samsung’s collaboration with Visa and Mastercard, you can use a debit card stored in your Samsung Wallet to send money to friends and family members’ bank accounts without needing to download an additional app.

“Instead, Samsung Wallet uses NFC technology to connect to the recipient’s debit card stored in their digital wallet. Plus, you can even transfer money to people without a digital wallet as long as they have a physical debit card with tap-to-pay capabilities.”

“It works by Samsung Wallet connecting to the chip in their debit card, just like when paying in a store. If you want to send money to a Samsung Wallet but they aren’t nearby, you can easily find their Samsung account by searching their phone number and completing the transfer remotely.”

“Whether you’re paying a friend back for buying group tickets or sending them your portion of the dinner bill, stressing over how to pay for shared expenses is a thing of the past. Now, funds arrive within minutes, meaning you no longer need to wait for funds to transfer between bank accounts — all it takes is a tap to transfer.”

Next: Visit the NFCW Expo to find new suppliers and solutions