Snap is Shutting Down its Mobile Payment System

Snap Inc, an American tech giant and camera company, is shutting down its payment system on August 30th. The payment system, Snapcash was launched in 2014 to enhance peer to peer payment of services. The feature in its most active days was available to United States users of Snapchat above the age of 18.

Snap Inc has not revealed the reason for the discontinuation of the payment system. However, a spokesperson from from the company announced in a statement that, it is grateful to Snapchat users who made use of Snapcash and to their partner company, Square, a mobile payment company.