Photo messaging service Snapchat, which enables users to share pictures that’ll automatically delete after ten seconds, has launched a mobile money service in the USA.
Snapcash has been created in partnership with payment provider Square. Users can transfer money to a friend’s bank account by sending them a chat message showing the amount of money involved (e.g. a message that simply says $17.50).
Payments are taken from the sender’s registered debit card’s details, which are stored by Square.
At the moment, the service is only available to Snapchat users in the United States who have a debit card and are aged at least 18.
[Snapchat blog]