Now You Can Send Money Via Snapcash On Your Snapchat
Snapchat has joined in on the mobile payment bandwagon, going up against Google Wallet and Venmo as a competitor. Through a partnership with Square Cash, Snapchat has added payment option to its app dubbed the Snapcash.
The Snapcash feature allows consumers to buy products instantly by using the Snapchat app on their phone. Now Snapchat users can add their debit card, and simply type the dollar amount into the text-chat feature on the Snapchat app, and press the green pay button to instantly send money to their friends.
However, this feature is currently only available to Android devices, but it is soon set to be released to iOS devices. When a user wants to send money to a friend, he/she simply types the ‘$’ and the Snapchat app recognizes that the user wants to send money, and the send button immediately changes to a green Snapcash button. When the user taps it, the money will be deposited into the friend’s account.
If the recipient of the sent money has not yet signed up for Snapchat, the money will be on hold for 24 hours. After which if the recipient still doesn’t sign up for Snapchat, the money will be refunded back to the sender.