Snapchat to end Snapcash payment system amidst intense competitors

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Starting August 30, you will not have the ability to send out cash utilizing Snapcash.


Screenshot by Jason Cipriani/ CNET.

Snapchat will end Snapcash on August 30, as its payment transfer service deals with competitors on several fronts.

A Snapchat representative validated to TechCrunch on Sunday that the service will be stopped.

“Yes, we’re discontinuing the Snapcash feature as of August 30, 2018,” the business composed. “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!”

A notice will strike the Snapchat app and its assistance website quickly, the representative stated.

Snapcash, which was released in 2014, might have been mainly forgotten as other peer-to-peer payment apps like PayPal, Venmo and Zelle grew.

Even though Snapchat is losing its payment function, there’s still plenty taking place for app. Its Snapchat Spectacles are offered for $60 (below $130), while its Lens Explorer assists you discover neighborhood productions quickly Check out CNET’s guide to 20 things every brand-new Snapchat user need to understand.