SnapChat announced a very surprising partnership today with Square to launch SnapCash, a new service for sending money to your friends.
Also Read: Is Twitter Launching Payment Services?
It might sound weird. SnapChat, the millenial social network by excellence, surprised everyone today when launching a new service to send money to your SnapChat friends. The service has been developed in partnership with Square, an online credit card and payment solutions.
To activate the service, you will need to have a SnapChat account, be aged 18+ and have a debit card. Once you add your debit card number into SnapChat, the service is activated. SnapChat says that all your banking data is securely stored by Square, which also handles the actual payment processing.
Once you are set up, you will see the dollar sign into your chat window. All you have to do is tap on it, select the amount you want to send and then hit the green button. Your friends will then receive its money.
An interesting fact is that there was already a service called Snapcash online, not associated to SnapChat not the actual new service. I wonder how SnapChat will deal with that one…
For the moment, SnapCash is only available to users who live in the US.
Related Stories:
- Skype Launches Qik – Another Snapchat Lookalike?
- Infographic: Should Your Brand Be on Snapchat?
- SnapChat Adds Text Messaging and Real-Time Video Calls
You might also like
More from Snapchat
Snapchat Announces ‘Spotlight Challenges’ With Cash Prizes
Snapchat is announcing Spotlight Challenges, a new way for creators to win cash prizes and grow their engagement.
Using Snapchat Audience Insights To Improve Your Campaign Results
Snapchat has issued a guide on how to best use its Audience Insights tool to tailor marketing to audiences and …
WPP And Snap Announce Augmented Reality Partnership
WPP and Snap have announced an AR collaboration to deliver state-of-the-art marketing and commerce solutions for brands.
Key Takeaways From The Snapchat 2021 Holiday Marketing Guide
With the holiday season less than three months away, Snapchat has released its 2021 holiday marketing guide.
Snap Introduces New ‘Snapchat Trends’ Tool
Snapchat has launched a new data tool to help creators identify popular Snaps and trending topics on its platform.
Snapchat Launches ‘Campaign Lab’ To Let Advertisers Run Campaign Experiments
Snapchat is introducing 'Campaign Lab' in its Ads Manager, to let advertisers run scientific experimentation on their campaigns.
Snapchat Is Growing Faster Than Ever
Forget what you thought about Snapchat, the app is growing faster than it has in years, now counting over 293 …
Off-White Brings Its New Fall And Winter 2021 Collection to Bitmojis
Bitmojis on Snapchat are getting a fashion upgrade with the new Fall/Winter collection from luxury brand Off-White.
Snapchat Adds New Practice-Based Ads Manager Campaign Activation Certification
Snapchat is introducing its first-ever practice-based certification as part of its Snap Focus ads certification courses.
