Some lucky social young things can now send more than just
nudes selfies on their favourite ephemeral messaging platform. Snapchat has teamed up with mobile payments company Square to launch "Snapcash" in the US, which lets American debit-card holders 18 and older send money within the private messaging service.
"What, no UK?" they cry. But luckily for a little light British amusement it comes with its own, somewhat-trippy advertising musical number to enjoy…
Snapchat CEO Evan Spiegel revealed its e-payments plan to Re/code. How it works is when you type in a certain dollar amount, the app recognises the text and prompts a green payments button to pop up on the keyboard. Tap the button if you intend to send some money your friend's way, and that's it.
This is all a clear extension of Square's own simple payment service known as Square Cash, which the company launched in the US a little over a year ago. Re/code also notes that Square will be responsible for storing personal banking information, so when people sign up for Snapcash, they will also be roped into a Square Cash account.
It's been a poorly kept secret that Snapchat has been interested in entering the mobile payments space. Whether being integrated with Square is the sum of its ambition remains to be seen.
US Android smartphones are the first to receive the app update, starting now, with an iOS one reportedly coming soon and the UK waiting patiently. [Re/code]