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Snap is shutting down Snapcash on August 30th

 

Time for all of the Snapcash lovers to bid farewell to the peer-to-peer cost service.

Snapchat’s cell cost service, Snapcash will formally shut down on August 30th. A spokesperson for Snapchat confirmed this to TechCrunch that the corporate is discontinuing the Snapcash characteristic. The characteristic has been out there to customers which were utilizing iOS and Android in the US.

Snapcash was introduced 4 years in the past in partnership with cell funds service, Sq.. At the moment Snapchat was extremely common and Instagram had nonetheless not stolen the disappearing tales characteristic. Now as Fb has began tales characteristic on its social media platform, WhatsApp and Instagram, Snapchat appears to have misplaced its edge. Furthermore, Google, Apple, and Fb supply their very own cash switch companies, subsequently Snapcash struggled to develop its person base.

TechCrunch’s report additionally explains how Snapcash was additionally used for promoting some erotic content material on-line the place some Twitter customers posted some sexually express images and demanded Snapcash in alternate for extra.

Moreover, Snap’s monitor file for safety poses severe vulnerability of phishing to its customers. In February this yr, a phishing attack resulted in exposing username and password of 50,000 Snapchat users.

The corporate is trying to upsurge income and progress by bringing the redesigned interface for making the app extra internet pleasant. Snapchat has additional added a number of thrilling filters.

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