Snapchat Will Shut Down Snapcash
Snapcash was originally intended as a feature by Snapchat allowing friends to send funds to each other directly from their debit cards that are linked to their accounts on the app, although the feature quickly turned into a way to pay for private videos and images of adult performers on the app.
Snapchat, which operates as a P2P payment system will be terminated by the end of August. Certain code embedded deep in the Android version of Snapchat revealed a message which said that Snapchat will be unavailable after August. Square, the company that operates the application and powers it will see the end of a collaboration with Snapchat after four years.
Snapcash quickly became a “problem child” of Snapchat. Since many other applications like PayPal and Square Cash, many other alternatives to sending money to friends are available. On the other hand, searching the name Snapcash online quickly results in a flood of adult content and performers offering their content for cash through the feature. As a precaution to avoiding possible legal or PR issues, the app is ditching its feature.
A representative with Snapchat confirmed that the company was indeed shutting down its money transfer feature after Ishan Agarwal of TechCrunch provided evidence of the code within. The representative from Snapchat explained that the service would be terminated after the 30th of August. As the first feature to be launched while still partnered with Square, Snapchat is thanking its users who operated through the feature since its conception.
Snapcash acted as a method of introducing and linking monetary services to Snapchat, allowing hundreds of thousands to quickly transfer funds in no time. With plans of transforming into an e-commerce platform, Snapchat will be storing information regarding pay, simplifying the process of purchases online and eventually draw in more brand names.
Another code embedded within the application under the name “eagle” was also discovered, utilizing phone cameras to fetch prices on products on Amazon by scanning things with the Snapchat camera on. Since the initial discovery of the code, the code has removed any mention of Amazon. Despite no direct plan for the future, allowing a simple camera on a phone to act as a price checker will provide Snapchat with many new opportunities.
Due to the Snapchat’s reputation as an adult content app, the application is looking to rebuild itself in any way possible and bring in more customers and users.