Snapchat Partners With Square On Snapcash.

Snapchat is partnering with Square to launch Snapcash.

Snapcash, Snapchat, SquareSnapchat announced it’s partnering with Square to launch Snapcash, a new service for sending money to friends. A lot of people are asking why. We believe they are directly competing with Facebook. Facebook announced they were adding mobile payments through their Messenger App to allow friends to send money to each other. It is interesting to see where this pans out, especially since Facebook tried to buy Snapchat a while back.

Snapcash is initially only available to Snapchat users 18 years and up in the U.S., that will most likely go global. The only other requirement a person needs to have is a Visa or MasterCard debit card. After a person enters their debit card number into Snapchat, it gets stored by Square, who also handles the actual payment processing.

We haven’t tried this yet, but from articles from media outlets, once you have that set up, all you have to do is send a private message to a friend like you normally would on Snapchat, type the dollar sign and the amount you want to send and hit the green Snapcash button that shows up to the right. The app then recognizes the amount and a green “$” button lights up. After that, Snapchat and Square take care of the rest. Snapchat says the feature was first born because its team is a fan of Square Cash, and it wanted to create something similar but that felt more “Snapchat-y.”

Here’s a very interesting ad they created:

How does your business use Snapchat? Let us know in the comments below!

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