The beta program will use Samsung Galaxy smartphones that support UWB. When two devices are in close proximity to each other, consumers have the option to transfer money directly from one phone to another via the ING Banking app. The new beta program aims to make peer-to-peer payments easier, more intuitive, and seamless.
Why is this important? Peer-to-peer payments are becoming more and more popular. Consumers often use this payment method to share expenses, shop from private sellers, or simply send money to family or friends using a bank account or linked card. This usually requires users to search for other users’ profiles by username, email address, or phone number.
UWB technology simplifies this process by connecting users directly through their smartphones. Compatible Galaxy smartphones can automatically detect when another user’s device is in range and how close it is. The sender only needs to be close to the recipient to make a payment for them. They say money transfer works faster, safer and less complicated.
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