[ad_1]
Snapcash launched in 2014 in partnership with Square theoretically gave a tremendous boost to both parties: Snap got a payment platform with relatively little work, while Square tied his service to a very familiar name . However, it is not a secret that Snapcash has not taken off. For many, Venmo is the familiar name when it comes to pay-your-friends applications – and that does not include the growing competition from Facebook, Zelle or tightly integrated features like Apple Pay Cash and Google Pay. No matter how Snapcash worked, it was only a fairly ordinary option in a sea of choice.
The shutdown also occurs when Snap itself is struggling to remain competitive. Remember, Snapcash was launched when Snapchat was at the zenith cultural, and Instagram was still in two years to introduce a feature imitative Stories that would finally help him to eat Snap's lunch. It was easy for Snap to add a feature like this when everything was going to happen roses – it's harder to justify it now, when the core business of the business is at stake. Snapcash could help Snap refocus its efforts, especially now that it could have other, more efficient ways to generate revenue through your payments.
Source link
