Snapchat is an ephemeral messaging service that’s found plenty of attention since its launch, and now a new feature may add a bit more attention.
On Monday, November 17, Snapchat officially announced a new partnership with Square, the name that’s built a reputation within the mobile payments industry. With the new deal between companies, Snapchat has unveiled Snapcash, the first product from Snapchat that was also built in partnership with another company:
“Today is a big day for us – we are launching our first product created in partnership with another company. We’re huge fans of the folks at Square and have been big admirers of Square Cash since it launched – just type a dollar amount into the subject line of an email and send cash to friends. Genius!“
The result of that admiration is Snapcash, the ability to send money within the Snapchat app. The process is simple: Stat a chat with someone you want to send money to, input the dollar sign into the text field and the amount of money you want to send. Just like that, you’ll send that amount of money to the person you designated it for.
To make it work, though, the Snapchatter will need to have a debit card linked to their Snapchat account. On top of that, the user needs to be 18 years old and reside within the United States.
What do you think of Snapcash?