Samsung Wallet will get peer-to-peer payments, buy now pay later

The Samsung Wallet app is getting some new functionality later this year. First off, it will support peer-to-peer payments. This will be called Tap to Transfer, and will let you transfer money to a different device by tapping that one and yours together.

Think of it like Apple's Tap to Cash, but for Android and with support for third-party digital wallets built-in. This will work because it will be linked to the associated debit card or account, not to your Samsung Wallet. So the transaction itself will be handled through Mastercard and Visa.

Next up, Instant Installment - Samsung's buy now, pay later scheme. This won't make Samsung a credit provider offering loans, but will facilitate your purchase and turn your payments into "the first offline payment plan experience" which will be available at brick-and-mortar stores or online, and will work with Visa and Mastercard credit cards.

Where Samsung Wallet comes in is in helping you manage the payment plan on your device. If you're confused about what exactly this is, so are we. It's safe to say Samsung isn't going to compete with the likes of Klarna, so maybe it will just offer you a way to see your upcoming installment payments in the app? We'll let you know when we find out more - and there's still some time left until these features should roll out at the end of March or thereabouts.

Via