Mobile messaging app Snapchat has launched a new mobile payments system called Snapcash in the U.S., the company has teamed up with Square Cash for the new service.
Snapcash will allow you to send money directly to your friends bank accounts using the app, and you can send payments once you have added you debit card details to the app, have a look at the video below.
We loved it so much that we wanted to create something with them that felt Snapchat-y. So we built a Snapcash prototype and shared it with the team at Square. Luckily for us, they were just as excited as we were and wanted to build it together.
The product you’re seeing today is fast, fun, and incredibly simple. After you enter your debit card, it’s securely stored by Square, who will swiftly process your payment and send cash directly to your friend’s bank account. Just swipe into chat, type the dollar sign, an amount (e.g. $11.25), and hit the green button.
You can find out more information about Snapcash over at Snapchat at the link below, the service is available to users in the U.S. who are 18 or over.