Snapchat revealed a new feature in the next update: the ability to send cash over Snapchat.
While they gain credibility from partnering with Square, Snapchat has had two major breaches that may scare users from uploading their payment information. And how useful is sending money over Snapchat anyway?
In October, over 100,000 Snapchat photos and videos were leaked. Earlier in the year, over 4.6 million Snapchat usernames were linked to their phone numbers.
Those are some significant security breaches for a company that gained its notoriety initially by allowing users to be comfortable sending out whatever they wished.
Snapchat has banned third-party apps following the breach, but I personally would not use their Snapcash features if it is one day released in Canada. There’s a big different between sending a goofy picture and uploading your money.
I see this move as a desperate move by Snapchat, a company who, in a few years time, might realize they were only a fad after all.