It’s Not Just Funny Photos Anymore, Snapchat Has Moved Onto Wireless Money Transferring!

We at Gadget Insurance Love Snapchat. We recently had a post about how it’s developments could turn revolutionary for events. But now it seems the world famous app has taken on an entirely new¬†identity as a fast and easy debit transferring service. SnapCash! Partnering with the company Square, It has launched in America and seems to be catching on fast.

How Does SnapCash Work?

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  • Once your details are secured into Snapchat, money is transferred through the message sending system.
  • Open a chat with the person you want to send money to.
  • type a dollar sign(a euro or pound sterling coin in our cases)
  • Enter the amount you want to send
  • Hit the green dollar sign “send” button

Alternatively, you can use the¬†“swipe-to-send” feature by typing three dollar sign into the chat window. However the result may make you feel like you’re in a bad 2003 rap video.

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Is It Safe?

Well due to some recent security faults, trust in the new feature was hesitant at best. There was a fantastic article in the Inquisitor detailing the safety precautions SnapCash has in place. Things to note are:

  • All payments go through Square which have produced trustworthy cash transfer apps before.
  • You must be 18 to use the app
  • You can only send money to people in your contact list (meaning you’d have to accept each other)

Without Square, it doesn’t look like this project would have made it far off the ground, but thanks to their partnership, SnapCash has gotten off to a good start. Now all that remains is to trial it for the next few months.

Oh, did we mention the advertisement is the strangest thing about all of this?

As SnapCash makes gadgets that use them more susceptible to be stolen, Gadget Insurance can protect your phone, iPhone or iPad so you can have peace of mind.