Snapcash concluded up as the simplest way to pay adult performers for personal content over Snapchat, not simply the simplest way to separate bills with friends. however, Snapchat can abandon the peer-to-peer payment house on August thirtieth. Code buried in Snapchat’s golem app includes a “Snapcash deprecation message” that displays “Snapcash cannot be on the market when Xmas [date]”. move down the feature can bring the associate finish to Snapchat’s four-year partnership with sq. to power the feature for causation folks cash.
Snapcash might become additional of a liability than a utility. With apps like Venmo, PayPal, Zelle, and sq. money itself, there have been many alternative ways that to pay back friends for drinks or Ubers, thus Snapcash might have seen low legitimate usage. Meanwhile, a fast Twitter explore for “Snapcash” surfaced many offers of titillating content in exchange for payments through the feature. it should are safer for Snapchat to ditch Snapcash than risk PR issues over its misuse.
TechCrunch tout Ishan Agarwal provided the below screenshot of Snapchat’s code to TechCrunch. once conferred with the code and asked if Snapcash would pack up, a Snapchat voice confirmed to TechCrunch that it'd, explaining: “Yes, we’re discontinuing the Snapcash feature as of August thirty, 2018. Snapcash was our 1st product created in partnership with another company – sq. We’re appreciative of all the Snapchatters UN agency used Snapcash for the last four years and for Square’s partnership!” The voice noted that users would be notified in-app and thru the support website presently.
Snapcash gave Snapchat how to urge users to attach payment ways to the app. That’s progressively necessary because the company aims to become a commerce platform wherever you'll search while not effort the app. Having payment information on file is what makes shopping for things through Snapchat easier than the net and attracts brands to use Snapchat storefronts.
We’ll see however Snapchat plans evolve its commerce strategy while not this driver. Earlier this month, TechCrunch disclosed that Snapchat’s code contained mentions of a project codenamed “eagle” that’s a camera search feature. it had been designed to permit users to scan associate degree object or barcode with their Snapchat camera and see product leads to Amazon. however since our report, mentions of Amazon have disappeared from the code. It’s unclear what's going to happen within the future, however camera search may provide Snapchat new utility and substantiation choices.
Snapcash won’t be a locality of that future, though. Given Snapchat’s cost-cutting efforts as well as layoffs, its desperate got to attract and retain advertisers to hit revenue estimates its uncomprehensible, and its persistent unhealthy rap as a sexting app, it couldn’t afford to support superfluous options or another scandal.