Those who rely on Snapchat’s Snapcash are going to have to switch to another payment service.
As was first reported by TechCrunch, Snapchat is planning to shut down its peer-to-peer mobile payment service at the end of August.
Snapchat, in partnership with the mobile payment company Square, first introduced Snapcash back in November 2014 as a way for users to send money to friends. In the Snapcash section of the settings menu, you can link a debit card, enable an option to require a security code before sending money, and view your transaction history and receipts. But soon, that will no longer be an option.
“Yes, we’re discontinuing the Snapcash feature as of August 30, 2018,” a Snapchat spokesperson told PCMag in an email. “Snapcash was our first product created in partnership with another company – Square. We’re thankful for all the Snapchatters who used Snapcash for the last four years and for Square’s partnership!”
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There’s no official word as to why Snapchat is giving Snapcash the boot, but it’s likely that the feature simply failed to catch on with the masses, considering there are so many other mobile payment services available these days, such as Venmo, Apple Pay, Samsung Pay, and PayPal. As TechCrunch noted, posts on Twitter indicate that many adult content creators have embraced the service as a way to accept payment for private content.
Meanwhile, Snapchat has been busy as of late, between tweaking its widely-panned redesign and adding new features such as group video chat and the ability to recall messages. The company also recently started peddling its second-generation Spectacles and introduced a new developer kit that lets third-party app makers integrate some of its “best features”—such as Bitmoji and publicly shared stories—into their own apps.