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Snapchat Introduces New Way to Pay Friends

Posted on 11.18.2014

Social networks have transformed themselves from being nothing more than a fun way to waste time into a clever way to network and even shop.

However, one social network is separating itself from the pack with its latest product release.

Millennial favorite Snapchat has announced the launch of Snapcash, a new way for friends to send cash to one another.

To bring Snapcash into fruition the social network partnered with Square, maker of the popular mobile credit card reader leveraged by small and local businesses. To send friends money, users simply swipe into chat, type the dollar sign followed by the amount they want to send and hit the green button.

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Users that elect to leverage Snapcash must be 18 or older and have their debit card information on file (which will be stored by Square).

“We set out to make payments faster and more fun, but we also know that security is essential when you’re dealing with money,” states the Snapchat blog. “Square has a ton of experience in this area and our teams have been hard at work to make Snapcash a great experience for everyone.”

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