recent reddit gone wild released-Snapchat Introduces Snapcash ‘Friendly’ Payment System With Square

Snapchat had introduced a new way of sending money to your friends and family member

directly into their without much fuss but with fun. Snap had partnered with Square which had

earlier created a simple payment transfer system by allowing the users to put the amount

within the subject line of an email and send the cash directly to the recipient’s bank account.

Snapchat had built its own version of payment service in association of Square and had

named it aptly ‘Snapcash’.

Snapchat project for the cash payment solution was in work for quite a long time and it had

also filed a few payment related trademarks in the past. It had built a prototype in advance

and shared it with the team of the Square which got excited and saw the huge potential and

agreed to develop Snapcash together.

Wondering how Snapcash Works?

Snapcash provides a simple peer-to-peer payment solutions wherein users could quickly

send the message cash to their friend’s bank account after entering their debit card details.

Snapchat users would be required to send a private message to their friend in the normal way

of sending the snaps. Then they would just have type in the dollar amount. Once the app

recognises the amount and a green ‘$’ lights up on the screen, users could simply press the

send button and get their amount transferred with ease and fun.Recent Reddit Gone Wild ReleasedRecent Reddit Gone Wild Released

Features of the Snapcash

Snapchat had stated in its public posting on its website that they had created Snapcash in the

view of making it extremely ‘fast, fun and incredibly simple’. And they had just done that.

Snapcash is extremely easy to operate and doesn’t have too much of hassles and steps

associated with transferring the funds on its platform.

Snapchat certainly won’t be keeping any debit card information on a file. All the security and

financial issues related to the fund transfer is being done by the Square which have ton of

experience in this field. Snapchat just powers the money message and Square deals with

financial end of the transactions. Furthermore sending money through Snapcash also

automatically makes that person into a Square account holder.

Square is multi-billion dollar payment start-up which was founded by the Jack Dorsey.

Square had actively agreed to build this Snapcash payment service along with Snapchat due

to its huge teenage customer base.

Snapcash Bound To Give Competition To Venmo

Online peer-to-peer money transfer field already had a moderately successful entity called

Venmo. Venmo is an eBay owned payment solution provider which happened to be not so

profitable in the past. However it is highly popular among the teenagers mainly the college

students. Snapchat does have an upper edge over the Venmo due to its huge user base.

Snapcash is currently available only for the users from United State who possess a debit card

and are above the age of 18 or more. Snapcash provides a quick and highly beneficial

payment transfer solution for the younger generation, and has a bright future ahead because

of the increasing use of digital currencies.

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