More Culture:

July 23, 2018

Snapchat is saying goodbye to Snapcash

The mobile payment service just can't compete with rivals like Venmo and Zelle

Lifestyle Technology
07112018_cellphone_adults_Pexels Photo by rawpixel.com/from Pexels

.

Snapchat is one social media market that has created its own culture and has tried to maintain and build a community for an all-in-one experience, but one feature has not held up.  It was announced today on TechCrunch that Snapcash, a Snapchat partnership with the payment service Square, will be ending on Aug. 30.

This partnership ending makes sense considering Square’s app, Square Cash, is doing fairly well on its own, along with rivals Venmo and Zelle. USA Today reported earlier this month that all four companies are the leading apps in the market, with 56.1 million users for Zelle, 38.7 million users for Venmo, and 16.2 million users for Square Cash in 2017. 


RELATED READS: Reeling from the news? Train your brain to feel better with these 4 techniques |A Selena Gomez-endorsed brand is hosting special events at SEPTA stops |Alleged sexual assault of N.J. student posted to Snapchat, lawsuit claims


Though this feature did not get much usage and was in strict competition with services such as Venmo and Zelle, TechCrunch also brought to light that Snapcash has been used for adult entertainment purposes. They noted that a simple Twitter search for "Snapcash" reveals payment exchanges for adult content. 

The company, which has been expanding into new avenues, such as their new Snapchat accessory, Spectacles, spoke with TechCrunch about the departure: “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.” 


Follow Virginia & PhillyVoice on Twitter: @vastreva | @thePhillyVoice
Like us on Facebook: PhillyVoice
Add Virginia's RSS feed to your feed reader
Have a news tip? Let us know.