Snapchat are partnering with Square Cash to launch Snapcash, through which US users over 18 years of age who own a debit card can make micro-payments to each other. Wired UK seemed to indicate in their podcast last week that Facebook might make a play for them, but I disagree. For one, it was reported earlier in the year that they are already looking at creating a similar service using WhatsApp. In any case, Snapcash isn’t the first instance of this service: WeChat started offering a similar money transfer service to its users in China over the summer.
The Snapcash ad below is very Willy Wonka & the Chocolate Factory-esque. Platform-wise, I like the fact that the service uses the $ symbol as the gateway to switching to transfer mode.
These are all really interesting events for the financial services industry, which is undergoing some pretty heated action and…
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