The closure of Snapcash has been confirmed by Snapchat. The in-app mobile payments service, Snapcash, offered through social media network Snapchat, will soon no longer be available. Some speculate the closure of the mobile payments service is due to it becoming more of a liability for the company than a utility. Snapcash was being used as a method to pay for private adult content over Snapchat. Although the reason behind shutting down the in-app mobile payments feature has yet to be disclosed, TechCrunch speculates that it may be due to…
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Snapchat breaks into the mobile payments market
Snapchat introduces new money transfer service called Snapcash Popular mobile app Snapchat has become the latest social application to embrace mobile commerce. Snapchat has rolled out a new feature called “Snapcash,” which allows users to transfer money to one another. This represents Snapchat’s first entry into the mobile payments market, putting it competition with other companies therein, such as PayPal and Venmo. If Snapchat can compete effectively, it could quickly become one of the most popular mobile commerce apps. New feature allows users to send money to their friends using…
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