With iOS 17.1 and watchOS 10.1, you can use NameDrop to quickly share contact information with a nearby iPhone or Apple Watch.
To share from iPhone to iPhone: hold the display of your iPhone a very closely from the top of the other person's iPhone
Continue holding your devices near each other until NameDrop appears on both screens
Choose to share your contact card and receive the other person's, or to only receive the other person's
To cancel NameDrop, move the two devices away from each other or lock your iPhone before the transfer completes.