Monday, July 23, 2018

Snapchat To Shut Down P2P Payment Feature, Snapcash

Venice-based Snapis shutting down the Snapcash payment feature of Snapchat, which had offered up peer-to-peer payments on its network. The feature will be shut down on August 30th. Snapchat had launched the peer-to-peer payment service in conjunction with Square back in 2014. The payment feature proved not to be as popular as alternatives such as Venmo, and multiple companies--including Apple and Google--have also been active in the peer-to-peer payment area. Snapchat's main adopters of Snapcash appear to be adult performers using the service to pay for erotic content.

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