San Francisco: Snapchat, the photo-messaging app, will be calling off the digital peer-to-peer payment service ‘Snapcash’ from August 30. This will mark the end of the four-year-long partnership of Snapchat with US-based mobile payment company ‘Square’.
A spokesperson for Snapchat confirmed the news on Sunday to TechCrunch. He said, “Yes, we’re discontinuing the ‘Snapcash’ feature as of August 30, 2018. ‘Snapcash’ was our first product created in partnership with another company – ‘Square’. We’re thankful for all the Snapchatters who used Snapcash for the last four years and for Square’s partnership.”
To make payments, to shop or to send or receive money through ‘Snapcash’, the user had to provide the regular number, the expiry date of the card and CVV (card verification value) of a debit card. Apart from this, the users didn’t have to leave the app to do any transaction.
While the app had the positive of not going to another page for the payments, the demerit of the app was that there was no option to cancel the payments once the process was completed.
Snapchat included the feature of ‘Snapcash’ four years back i.e. in 2014. The photo-messaging app partnered with US-based mobile payment company ‘Square’ that used to handle the actual payment processing.
The photo-messaging app included this feature to serve their customers and make it a more user-convenient app but it was taken otherwise by some of the users who offered adult content in exchange for payments through ‘Snapcash’. This could have landed Snapchat in serious legal and PR problems, hence the company decided to call off the feature which can be disheartening for many Snapchatters.
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