Snapchat Snapcash goes on Aug. 30

Those who rely on Snapchat’s Snapcash are going to have to switch to a different payment service. (AP Photo/Mark Lennihan) (Copyright 2017, The Associated Press. All rights reserved.)

(Copyright 2017, The Associated Press. All rights reserved.)

Those who rely on Snapchat’s Snapcash are going to have to switch to a different payment service.

As was first reported by TechCrunch, Snapchat is planning to shut down the peer-to-peer mobile payment service at the end of August.

Snapchat, in collaboration with the mobile payment company Square, for the first time introduced Snapcash back in November 2014 as a way for users to send money to friends. In the Snapcash section of the settings menu, you can link a debit card, enable an option to require a security code to send money, and view your transaction history and receipts. But soon, that is no longer an option.

“Yes, we crossed the Snapcash feature from August 30, 2018,” a Snapchat spokesperson told PCMag in an email. “Snapcash was our first product created in partnership with another company, Square. We are grateful for all the Snapchatters who use Snapcash for the past four years, and for the Square collaboration!”

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There is no official word as to why Snapchat is giving Snapcash the boat, but it is likely that the function just failed to catch on with the masses, given that there are so many other mobile payment services available these days, such as Venmo, Apple Pay, Samsung Pay and PayPal. As TechCrunch noted, posts on Twitter that a lot of adult content creators have made use of the service as a way to accept payment for their own content.

Meanwhile, Snapchat has been busy lately, between the tweaking of her generally was the redesign and adding of new features, like group video chat and the ability to recall messages. The company has also recently begun peddling its second-generation Glasses, and introduced a new developer kit that allows third-party app makers to integrate some of its “best features”—such as Bitmoji and the public shared stories—in their own apps.

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