SEOUL, South Korea—Samsung Pay is expanding its banking functions to offer more diverse services to users by adding money transfer services, Samsung Electronics announced.
Samsung Pay users will now be able to withdraw or transfer money from Shinhan and Woori bank accounts starting from Dec. 14.
With the newly added transfer function, customers with accounts at either Shinhan or Woori bank can now transfer accounts directly through biometrics without an official certificate or one-time password, The Korea Herald reported.
“Previously when you registered an account on the app, you could only make deposits and withdrawals from ATMs. However, you can now transfer money by just utilizing the app,” said a Samsung official, according to The Korea Herald.
In addition, five banks, including IBK, NH NonHyup Bank, and Saemaul Bank will begin ATM deposit and withdrawal services through its Samsung Pay Mini app for Android OS Smartphone users, The Korea Herald reported.