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Snapchat Shuts Down Snapcash Consider The Consumer

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Snapchat Shuts Down Snapcash – Yeah, You Know Why…

Snapchat users who used the platform’s Snapcash feature to send and receive money from other users will have to find a new way to do so by the end of the next month as Snapchat shuts down Snapcash, or will be, by August 30, 2018.

Consumer Affairs reports that Snapchat recently confirmed to TechCrunch that it will be shutting down Snapcash on August 30. The news originally broke when code was discovered inside of Snapchat’s Android app that displayed a “Snapcash will no longer be available after %s [date]” message.

“Yes, we’re discontinuing the Snapcash feature as of August 30, 2018,” said a Snapchat spokesman when questioned about the code. “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!”

Not taking off

Although Snapchat declined to comment on why it was shutting down Snapcash, TechCrunch notes that the service had been previously associated with payments made for erotic content. The publication notes that some Twitter users had taken to using the service to collect payments in exchange for sexually explicit online photos.

Perhaps more poignant, though, is that Snapcash has struggled to take off while competitors like Venmo and PayPal have continued to gain prominence amongst users. Although Snapchat itself has made several changes in the past year to add to the user experience, it seems that a peer-to-peer money transfer service is not in the company’s plans for the immediate future.

Have you ever used Snapcash? Will you be affected when Snapchat shuts down Snapcash? If so, please let us know! Send an email to Outreach@ConsiderTheConsumer.com, find us on Twitter or Facebook, or even connect with us directly on our website! And let your friends know! Share this post on social media! We look forward to hearing from all of you.

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