Nearly four years after Snapchat announced Snapcash, it's been confirmed that the feature is being retired.
Snapchat says that its Snapcash feature will be discontinued on August 30, 2018. The company didn't give an explanation as to why it's shutting the feature down, only saying that it's thankful for all of the users that gave it a try. Snapchat's full statement to TechCrunch on the shutdown of Snapcash looks like this:
“Yes, we’re discontinuing the Snapcash feature as of August 30, 2018. 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!”
Announced in November 2014, Snapcash is a way to send money to your friends in the Snapchat app using your debit card and Square. The feature likely didn't take off as well as Snapchat would've liked, especially with the rise in payment methods like Google Pay, Apple Pay, Venmo, and others.
Did you ever use Snapcash?