You Can Now Send Cash to Friends Via Snapchat

Illustration for article titled You Can Now Send Cash to Friends Via Snapchat

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.

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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!

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.

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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]

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DISCUSSION

I don't use Snapchat and as an old dude I really only think of it as a way to send naked pictures, but I know lots of people who use it as their chat platform of choice. What I was wondering is can you no longer tell someone a price with a dollar sign without it sending them cash? As soon as she typed the number it switched to payment and didn't look like an easy way to change it back. I can see lots of problems with this:

Girl sends nudes (cause snapchat)

Guy says, "Wow you look like $1,000,000 bucks."

Guy goes broke

(Yes, this is an exaggeration on purpose, you don't need to point out how it isn't a true scenario)