Snapchat has introduced a new way of sending money and gifting friends with Snapcash. For now the service is available in the US, according to the blog post “Snapcash is available to Snapchatters in the United States who have a debit card and are 18 or older“.
Snapcash the payments service allows you to gift money by simply adding a dollar amount and registering your Debit Card. Snapchat has introduced the service in partnership with Square a payments solutions provider that lets customers sign up for payments with Visa and MasterCard debit cards and stores the card information securely.
The service is easy to use where users need to Just swipe into chat, type the dollar sign, an amount (e.g. $11.25), and hit the green button.
This could mean a new way for brands to give rewards and engage audiences with Contests on Snapchat.