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What happened to Snapcash?

Snapcash ended up as a way to pay adult performers for private content over Snapchat, not just a way to split bills with friends. But Snapchat will abandon the peer-to-peer payment space on August 30th.

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Snapcash ended up as a way to pay adult performers for private content over Snapchat, not just a way to split bills with friends. But Snapchat will abandon the peer-to-peer payment space on August 30th. Code buried in Snapchat’s Android app includes a “Snapcash deprecation message” that displays “Snapcash will no longer be available after %s [date]”. Shutting down the feature will bring an end to Snapchat’s four-year partnership with Square to power the feature for sending people money. Snapcash may have become more of a liability than a utility. With apps like Venmo, PayPal, Zelle, and Square Cash itself, there were plenty of other ways to pay back friends for drinks or Ubers, so Snapcash may have seen low legitimate usage. Meanwhile, a quick Twitter search for “Snapcash” surfaced plenty of offers of erotic content in exchange for payments through the feature. It may have been safer for Snapchat to ditch Snapcash than risk PR problems over its misuse. TechCrunch tipster Ishan Agarwal provided the below screenshot of Snapchat’s code to TechCrunch. When presented with the code and asked if Snapcash would shut down, a Snapchat spokesperson confirmed to TechCrunch that it would, explaining: “Yes, we’re discontinuing the Snapcash feature as of August 30, 2018. Snapcash was our first product created in partnership with another company – Square. We’re thankful for all the Snapchatters who used Snapcash for the last four years and for Square’s partnership!” The spokesperson noted that users would be notified in-app and through the support site soon. [Update 7/23: Square also issued a statement to TechCrunch, tell us that, yes, it’s ending the partnership with Snapchat at the end of next month. Aiming to show its Square Cash product is still alive, a spokeperson told us “With more than 7 million monthly customers, Cash App continues to see strong growth, while delivering utility and flexibility for individuals’ money. We continue to focus on building new features that address the financial needs of our customers as we work to expand financial access for all.” Snapcash gave Snapchat a way to get users to connect payment methods to the app. That’s increasingly important as the company aims to become a commerce platforms where you can shop without leaving the app. Having payment info on file is what makes buying things through Snapchat easier than the web and draws brands to use Snapchat storefronts. We’ll see how Snapchat plans evolve its commerce strategy without this driver. Earlier this month, TechCrunch revealed that Snapchat’s code contained mentions of a project codenamed “eagle” that’s a camera search feature. It was designed to allow users to scan an object or barcode with their Snapchat camera and see product results in Amazon. But since our report, mentions of Amazon have disappeared from the code. It’s unclear what will happen in the future, but camera search could give Snapchat new utility and monetization options. Snapcash won’t be a part of that future, though. Given Snapchat’s cost-cutting efforts including layoffs, its desperate need to attract and retain advertisers to hit revenue estimates its missed, and its persistent bad rap as a sexting app, it couldn’t afford to support unnecessary features or another scandal.

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Who is the king of Snapchat?

DJ Khaled 'King of Snapchat' DJ Khaled explains how to succeed on social media.

If all you want to do is win social media, you have to be yourself and have a positive message, according to top online influencer Khaled Mohamed Khaled, better known as DJ Khaled. "Being authentic always wins," Khaled said to CNBC. "When people see somebody that is just real, they love it. It ain't no act. It ain't no fake." Khaled, who was called "The King of Snapchat " by Coca-Cola senior VP for content Emmanuel Seuge, gets 3 to 4 million views on each of his Snaps, according to Wired. He has more than 6.2 million followers on Instagram and 3.36 million followers on Twitter . He's also signed a deal to host a weekly radio show on Apple Music. Though Khaled rose to fame through his Snaps, he said he likes all the platforms, and uses tools to post the same content across all social media. "I think it would be genius if the CEOs got together," Khaled said. "I know everybody's competitive, and everybody getting their money and doing what they have to do, but if they got together and made maybe a switch where we didn't have to rip stuff off and put it and post it and find a way to break down the pie, (it would be great)."

Watch: How DJ Khaled conquered social media

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