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Snapchat is Shutting Down Snapcash, its Payment Service, on August 30th

The digital-payment feature was made part of Snapchat back in 2014 in partnership with "Square" that handled the actual payment processing

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Snapchat
Teenagers prefer Snapchat over Facebook, Instagram: Study. Pixabay

Photo-messaging app Snapchat is reportedly terminating its digital peer-to-peer payment service “Snapcash” on August 30, ending its four-year long partnership with US-based mobile payment company “Square”.

“Yes, we’re discontinuing the ‘Snapcash’ feature as of August 30, 2018. ‘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,” TechCrunch quoted a Snapchat spokesperson as saying late on Sunday.

“Snapcash” used the regular number, expiration date and card verification value (CVV) of a debit card, allowing Snapchatters to shop, send and recieve money without having to leave the app.

snapchat
Snapchat on a smartphone device. IANS

The feature, however, did not allow cancellation of payments once the process was completed.

The digital-payment feature was made part of Snapchat back in 2014 in partnership with “Square” that handled the actual payment processing.

Also Read: Snapchat’s Camera May Help You Shop at Amazon

Even though the purpose of the feature was purely for user-convenience, it was exploited by users who offered adult content in exchange for payments through “Snapcash”. The misuse could have caused Snapchat serious legal and PR problems. (IANS)

Next Story

Snapchat, OnePlus will let you create AR Experiences this Diwali

Snapchat has 203 million daily active users globally, with 70 per cent playing with or using AR features every day

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Snapchat
Snapchat has partnered with OnePlus to bring Indians around the world a little closer to home to celebrate the festival of lights with the power of Snapchat's AR technology. Pixabay

In a bid to gain ground among the Indian millennials, Snapchat on Thursday teamed up with OnePlus to launch a unique Diwali campaign.

The brands have created special Lenses that brings to life landmarks like Taj Mahal, Gateway of India, Tower Bridge in London and the Eiffel Tower to commemorate the festival of lights.

“Snapchat has partnered with OnePlus to bring Indians around the world a little closer to home to celebrate the festival of lights with the power of Snapchat’s AR technology,” said Tarika Soni, Head of Commercial Strategy and Ad Monetisation for India, Snapchat.

Snapchat has 203 million daily active users globally, with 70 per cent playing with or using AR features every day.

Launched earlier this year, “Landmarkers” are available in Lens Studio and anyone can create AR experiences for Snapchat.

Snapchat
In a bid to gain ground among the Indian millennials, Snapchat on Thursday teamed up with OnePlus to launch a unique Diwali campaign. Pixabay

Lenses using our Landmarker technology enable AR experiences that can transform the world’s most iconic landmarks in real-time.

ALSO READ: Twitter Unveils New Emoji For Diwali 2019

“Building on ‘One World. One Family. OnePlus’ campaign, we collaborated with Snapchat to bring alive the festival of lights to our Indian diaspora spread across the world,” said Vikas Agarwal, General Manager, OnePlus India. (IANS)