If you ever need to send or transfer money to friends or family over the internet, Snapchat‘s Snapcash feature has you covered. If you use online payment services like Venmo or Square Cash on a regular basis, Snapcash is a handy feature that allows you to send/transfer money to your contacts directly from Snapchat. If you don’t already know, Snapchat is a popular teen social network and an ephemeral messaging app used by tens of millions of people around the world.
Snapchat has partnered with Square Cash to offer its users the Snapcash payment service. Snapcash is as simple to use as Snapchat’s text chat. Let’s get started learning how to use Snapcash and send/transfer money to friends and family using Snapchat. Please note that Snapcash is only available to US residents over the age of 18 who have a verified US mobile number.
Where Did All the Money Go?
Prior to the shutdown, all you had to do to start receiving or sending money was link your debit card to your Snapchat account. The rest of the procedure was straightforward. You could receive money even if you hadn’t linked your debit card, just like with PayPal.
You can send money by typing a dollar sign and tapping a button in any chat. If you were the recipient, Snapchat would send you an alert and the money would be deposited into your account right away.
Doesn’t that sound cool? Until early July 2018, when the first rumors of the service’s demise surfaced. Snapcash was only operational until August 30, 2018.
If you didn’t have a linked debit card, you only had 48 hours to get one if you wanted to withdraw the money. The money would otherwise be returned to the sender. You would be able to preview transaction history for a month after the shutdown before it went away as a Snapcash user.
How To Send Money On Snapchat?
- As previously stated, using Snapcash is as simple as text messaging. Simply swipe into chat with the Snapchat contact to whom you want to send the payment.
- Type the dollar amount you need to send/transfer to your friend or family in the text chat window (e.g. $5). When the ‘$’ symbol appears in the chat window, Snapchat changes the yellow send message button to a green Snapcash button. You’ve sent/transferred money to your contact by tapping the green Snapcash button.
- If this is your first time using Snapcash, Snapchat will ask you to link a MasterCard or Visa debit card to your account. To link your debit card, simply enter your card number, expiration date, CVV, and ZIP code.
When you send money to a Snapchat contact, he or she receives a notification that a payment has been made. By linking a debit card to his or her Snapchat account, the recipient must accept the payment within 24 hours. The money will be returned to the sender’s account if the recipient does not accept the payment. By going to your Profile Settings and tapping on ‘Snapcash’ under ‘My Account,’ you can always find all of your Snapcash transactions and edit your debit card settings.
Why did Snapchat Cancel Snapcash
Snapcash’s usage statistics were not reported, and the company made no public announcement about why it decided to shut down the peer-to-peer payment service.
But one could speculate that it’s because Snapchat has (inadvertently) become a platform for amateur adult content marketing. As a result, some Snapcash users may have abused the service to obtain explicit images from other Snapcash users.