Snapchat has partnered with Square to launch Snapcash, a new feature that lets you use your debit card to pay for goods or simply send money to friends.
"Today is a big day for us - we are launching our first product created in partnership with another company. We’re huge fans of the folks at Square and have been big admirers of Square Cash since it launched – just type a dollar amount into the subject line of an email and send cash to friends,"explained Snapchat in a blog post. "Genius!"
Snapcash works like this: enter your debit card, then swipe into chat, and type a dollar sign with an amount (like $11.50). Once you're done, hit the green button and that's it. Snapchat said your card details will be securely stored by Square, so you don't need to worry about a Snappening-type hacking scandal that will result in you losing money.
Square is a popular San Francisco-based mobile payments company founded in 2009 by Jack Dorsey and Jim McKelvey. It not only offers the Square credit card reader but also several services such as Square Register and Square Order.
Snapcash via Square is available to all Snapchatters in the US with a debit card. They just have to be 18 years or older. Watch the video above for more information.