Snapchat Is Shutting Down Snapcash Payment Service (XBIZ)

Read the full article by Rhett Pardon at XBIZ.com

VENICE, Calif. — Snapchat, which teamed up with mobile company Square in November 2014 to roll out Snapcash for easy payments, has decided to pull the plug on that service on Thursday, Aug. 30.

In an announcement of its impending death, Snapchat said,” We’re thankful for all the Snapchatters who used Snapcash for the past four years and for Square’s partnership.”

Users for "next steps," the Venice, Calif.-based company said, will be notified via the application and through the Snapchat support site.

Snapchat officially did not address why it was ending its service, but it's likely that the feature simply failed to catch on with the masses, considering there are now so many other mobile payment services available.