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
More from Snapchat
You Can Now Unsend Messages On Snapchat
Snapchat has become the latest social platform to allow its users to "unsend" messages, with a new Clear Chats feature.
Snap’s Spectacles Are Now Available On Amazon In The US, UK, And Canada
Released in late April in the US, the second generation of Snap's Spectacles is now available in the US, UK, …
SeatGeek Integrates With Snapchat Allowing You To Buy Tickets Through The App
SeatGeek has now integrated with Snapchat, allowing users to buy game and concert tickets from teams and artists without ever …
