Snapcash sensation

Snapcash
Back to Article
Back to Article

Snapcash sensation

Snapcash

Snapcash

Ted Boyer

Snapcash

Ted Boyer

Ted Boyer

Snapcash

By Brittany Gregg, Opinion Editor

On Monday, Nov. 17, Snapchat launched their first product created in partnership with another company known as Square. This is an app that allows individuals and merchants in the United States, Canada and Japan to accept offline debit and credit cards on their iOS, Android, or tablet computer. The app also supports manually entering the card details or swiping the card through the Square Reader, a small plastic device that plugs into the audio jack of a supported smartphone or tablet and reads the magnetic stripe.

Snapchat has been fascinated with Square Cash and the concept of simply typing a dollar amount into the subject line of an email and sending cash to friends. They loved it so much that they wanted to create something with them that felt “snapchat-y.” Luckily, Square Cash was just as excited as Snapchat and decided to build together.

After you enter your debit card, it’s securely stored by Square, who will swiftly process your payment and send cash directly to your friend’s bank account. Just swipe into chat, type the dollar sign, an amount (e.g. $11.25), and hit the green button.

Snapchat has made payments faster and more fun, while understanding that security is essential when dealing with money. Lucky for Square, they have much experience in this area. In August 2012, when Starbucks announced it would use Square to process transactions with customers who pay via debit or credit card. In February 2014, Whole Foods Market announced it would use Square Register in select stores’ sandwich counters, pizzerias, and coffee, juice, wine and beer bars. Then in March 2014, Square announced it would start allowing sellers to accept bitcoin on their own storefronts through Square Market. The seller will take no risk on Bitcoin value fluctuations. Lastly, in November 2014, Square announced that it will start accepting payments via Apple Pay sometime in 2015.

Both Snapchat and Square teams have been working to make Snapcash a great experience for everyone. For now, Snapcash is available to Snapchatters in the United States who have a debit card and are 18 or older.

Print Friendly, PDF & Email

Hang on for a minute...we're trying to find some more stories you might like.


Email This Story