You can now send more than just nudes selfies on your favorite ephemeral messaging platform. Snapchat teamed up with the mobile payments company Square to launch “Snapcash,” which lets debit card holders 18 and older send money within the private messaging service.
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 recognizes the text prompting a green payments button to pop up on the keyboard. Just tap the button if you intend to send some money your friend’s way, and that’s it.
It also comes with its own, somewhat-trippy musical number!
https://www.youtube.com/watch?v=kBwjxBmMszQ
This is all a clear extension of Square’s own simple payment service known as Square Cash, which the company launched a little over a year ago. Re/code also notes that Square will be responsible for storing personal banking information, so when you sign up for Snapcash, you’ll 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.
Android smartphones will be first to receive the update starting today, and an iOS update is reportedly coming soon. [Re/code]
