It seems like everywhere you go you see people holding up their phones, making a weird face, and sending it through Snapchat. Snapchat is the app that allows you to send photos to friends that disappear after a few seconds. It has become so popular that Snapchat has become a verb and has expanded to include video and now offering a way to send money to your friends. They partnered up with the online payment service Square and now users can connect their debit card to their account.
To send cash, users will first need to read the terms and conditions, and verify that they are 18 and over (though it is not clear if Snapchat is actually verifying ages). Then you enter your debit card information (since Snapchat and Square are partners, you will be sending your card information to both companies), to add more security, you can request to have Snapchat ask for your CVV for each transaction. Sending the actual payment it quite easy. You open the contact’s name, type the $ and then the amount of money that you want to send.
There have been some safety concerns because Snapchat has had some issues with privacy in the past, so people are not sure if this is a smart idea.