Snapchat is not only useful for sending pictures to friends and family. Now you can Snapcash and send money with the push of a button.
Snapchat made the announcement earlier this week that they have teamed up with Square, the popular mobile payment company.
“The product you’re seeing today is fast, fun, and incredibly simple. After you enter your debit card, it’s securely stored by Square, who will swiftly process your payment and send cash directly to your friend’s bank account. Just swipe into chat, type the dollar sign, an amount (e.g. $11.25), and hit the green button,’ reads a blog on Snapchat.
So will your money disappear into thin air?
Snapchat has emphasized that your money will be safe and secure since Square is experienced in financial security.
Currently, Snapcash is only available to debit card holders, who live in the United States and are 18 years or older.
Snapcash is available on Android, but IOS will be rolled out soon.
Snapchat is a messaging service that allows users to send pictures, videos, texts and drawings known as snaps to other users. After receiver views snaps, they disappear from the server after a period of time selected by sender.
The US$10 billion company reportedly sends over 700 million snaps per day.
Will you be snapcashing?
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