In an exciting development for consumers, Samsung has announced the impending launch of a new feature in its Samsung Wallet application, allowing users to utilize a 'Buy Now, Pay Later' (BNPL) payment option. This feature is set to enter an Early Access Program from April 28 to June 6, 2024, specifically targeting users in the United States.

The announcement was made via an email discovered by the tech blog SammyGuru, revealing that Samsung has partnered with Splitit to facilitate 'Installment Payments' through its Wallet app. This innovative financing option enables users to make purchases and pay for them in installments, thus avoiding the burden of paying the full amount upfront. However, it is important to note that participation in this trial is limited to users who meet specific criteria.

To take advantage of the BNPL feature, users must hold an eligible payment card and reside in one of the states designated for this pilot program. Currently, the feature will only accept Visa and Mastercard payment options, ensuring a streamlined experience for users choosing to split their payments. The states where this feature will be available include Arizona, Idaho, Kansas, Louisiana, Maryland, Michigan, Montana, New Hampshire, North Dakota, Oklahoma, Oregon, Tennessee, Utah, and Wyoming. Only those users located in these states will see the Early Access sign-up button within their Samsung Wallet app, making it crucial for interested participants to check their eligibility.

For those who qualify and wish to be part of this early trial, they can join the waitlist directly through the Samsung Wallet app. This waitlist will enable users to stay informed about their acceptance status as the start date approaches later this month.

Samsung's foray into the BNPL space comes at a time when competitors like Google Pay have already begun to offer similar functionalities. Google Pay's BNPL option allows users to choose from various third-party providers, such as Affirm or Zip, to spread their payments across multiple installments. However, Google has also issued warnings about potential consequences for missed payments, including negative impacts on credit scores and possible collection actions. In contrast, Samsung has assured prospective users that joining their early access program will not require a credit check, which could make the process more appealing for many consumers.

In addition to the BNPL feature, Samsung Wallet has also seen updates that enhance its digital key support for select vehicle models. The latest update has expanded capabilities for users of Polestar and Volvo vehicles, with initial support launched for models like the Volvo EX90 and the Polestar 3. Samsung has indicated that more vehicle models will be included in future updates, further broadening the functionality of Samsung Wallet. Currently, this feature is rolling out primarily to users in Europe, North America, and Spain. With Polestar and Volvo joining the ranks of other car manufacturers such as Kia, BMW, Genesis, and Audi, Samsung is positioning itself as a key player in the automotive digital key market.