Snapchat will end Snapcash on August 30, as its payment transfer service faces competition on multiple fronts.
A Snapchat spokesperson confirmed to Techhnews that the service will be discontinued.
“Yes, we’re discontinuing the Snapcash feature as of August 30, 2018,” the company wrote. “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!”
A notification will hit the Snapchat app and its support site soon, the spokesperson noted.
Snapcash — which was— may have been largely forgotten as other peer-to-peer payment apps like Venmo, PayPal and Zelle grew.
Even though Snapchat is losing, there’re still plenty of things happening for app. Its Snapchat Spectacles (down from $130), while its Lens Explorer helps you .
Check outto 20 things every new Snapchat user should know.