Snapchat Snapcash (image 001)

Snapchat updated its iOS client today, bringing the app to version 8. The update activates the company’s new ‘Snapcash’ money transfer service, which it announced yesterday, that allows users to quickly send money to one another by simply sending a message.

Snapcash is a collaborative project between Snapchat and Square, built using the SquareCash concept. SquareCash allows users to send money via email, text message and Bluetooth with little friction, so it’s not hard to see how they made the jump to Snapchat.

Snapcash can be accessed within the Chat feature. Just enter a $ sign and then a numeric value to indicate that you are sending cash directly from your bank account. Square is responsible for securing payments and debit card details, which you’ll have to fork over.

Snapchat says the service is exclusive to the US for now, and only available to those 18 and older. If you fall into that category, and actively use Snapchat, it seems like Snapcash may be worth checking out. You can find the latest version of Snapchat in the App Store for free.

  • Andrew

    Sucks if you want to tell someone how much something cost, then you accidentally send them $200

    • Ian Leon

      just say “bucks” like everyone else

      • Derik Stroisch

        why would I want bucks when I can have $… yeah see what I did there? not everyone says bucks when they are taking about money.

      • Ian Leon

        thats very true, thank you

  • Guest

    I have a feeling a lot of scummy girls will try to charge $ for nudes with this new “snapcash”

  • Speezy

    So basically snapchat is making it easier for girls to charge $ for nudes. Who else would this snapcash service benefit anyways?

    • Cody

      Seriously though, I can’t wait for the day where I can buy stocks on Instagram or find a prostitute on Spotify.

  • Chris

    It’s a free app and now they’re enticing premium content, just no!

  • Tommy Gumbs

    that was the most hilarious, cheesy, and cheap commercial ever……and yes….they have successfully turned the app into a pre cursor for prostitution..of sorts lol

    • TwinSon

      Who the hell goes half in on an item like that anyways?

  • Warmachine69

    I find it hard to believe someone will use this if they want to make “secure payments”

    • Fanboy 

      1 word: teenagers

  • Anas Hasan

    Yet its not updated to support iphone 6 & 6+

  • Cody

    That’s one funny ad with the worse actors ever.

  • InfinitePlusOne

    One of the worst ad I’ve ever seen.

  • Jonathan

    Giving my credit card to a company that is hacked every month? Sure!

  • Lance Baker

    Holy what the hell? That video was clearly created by people taking far too much LSD. I’m highly disturbed…

  • Tim Johnson

    So when’s it going to be updated for 6/6+…