Money is changing in a big way. Having physical money in your pocket may soon become a thing of the past, if companies such as Google and Apple get what they want. Both companies offer methods of paying for items directly from your phone via Google Wallet and Apple Pay, and now Snapchat is throwing its hat into the ring.
Yes, you read that right, Snapchat.
Announced today, the popular app is introducing a new feature called “Snapcash”, where you can send money to friends simply by typing a dollar amount into your chat with them and pressing send.
Personally, I’m a bit wary of Snapchat having my bank details, considering that as early as last year the user details of over 4.6 million people were leaked on the internet. That being said, the fact that you actually have to make it rain with each individual dollar bill as a way of verifying the transaction is enticing enough on its own.
Snapchat is a lot more than a platform for flashing your significant other, and the introduction of this feature could be hugely beneficial for a number of reasons. Paying someone back, sharing the taxi home, even splitting a dinner with friends would be a lot easier if I could just throw virtual money at my friends and be done with it.
It could also mean brands getting advertising beamed straight to your phone, and impulse buying may become a bigger than ever when you’ve only got ten seconds to decide whether you need a new item of clothing you’ll probably only wear twice…
Feature Image: YouTube.com