Popular social media site Snapchat has announced it will be shutting down its payment feature snapcash as of 30th august, this is according to TechCrunch.
“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.
Shutting down the feature will bring an end to Snapchat’s four-year partnership with Square to power the feature for sending people money.
The move to halt the payment feature which launched in 2014 is seen as largely due to stiff competion faced by other payment apps like Venmo, PayPal, Zelle, and Square Cash.