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Snapchat has announced its latest feature called the Snapcash that enables users to send money by typing the amount into their snapchats becoming the latest smartphone app to go cash free.
Snapchat has launched the feature in collaboration with Square Cash, a mobile payments company headed by Twitter co-founder Jack Dorsey. The feature is currently available for users in the US.
“Today is a big day for us - we are launching our first product created in partnership with another company. We’re huge fans of the folks at Square and have been big admirers of Square Cash since it launched – just type a dollar amount into the subject line of an email and send cash to friends. Genius,” Snapchat announced today on its blog.
Users above the age of 18 can sign up using their Visa or Mastercard details which will be held by Sqaure cash.
“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.” Snapchat added in its official statement.
