Snapchat Snapcash originally rolled out four years ago in 2014 as a proprietary peer-to-peer payment option but now, it’s going away and for good reason…
Back in 2014, Snapchat partnered up with Square to introduce Snapchat Snapcash so users could send each other money. But, it wasn’t exactly a fully thought-out plan as Snapchat had already gained a reputation as a hub for sharing explicit photos. Now, after four years of offering the feature, it’s going away on August 30th.
Snapchat Snapcash Shutting Down August 30th 2018
TechCrunch discovered a deprecation message in a recent APK teardown. So, the site contacted Snapchat and the ephemeral platform confirmed it was shuttering the tool. “Snapcash was our first product created in partnership with another company – Square. We’re thankful for all the Snapchatters who used Snapcash for the last four years and for Square’s partnership,” a spokesperson explained.
This isn’t surprising since Snapcash became commonly used to pay for explicit photos and videos during its short lifetime. Of course, this is a liability for parent company Snap, Inc.
Recently, another bit of uncovered hidden code revealed a possible partnership with Amazon. Snapchat users spend an average of 49.5 minutes per day on the app, which isn’t much less than rivals Facebook and its subsidiary, Instagram. People spend an average of 58 minutes per day on the former and 53 minutes per day on the latter.
Watch the original video advertisement for Snapchat Snapcash below: