Introducing Snapcash • Hacker News Board

Re: Introducing Snapcash

#11

Post by Igglyboo » Mon, Nov 17, 2014, 8:59 PM UTC

steakejjs wrote: post #8

Seems like this might impose on Clinkle quite a bit? Who is going to download clinkle when they can do the same thing from snapchat? Seems neat to me, and pretty unexpected. One scary thing is just how bad a lot of passwords are for mobile applications. I'm sure it is even easier to brute force passwords on mobile and send a snapcash to yourself

https://twitter.com/mrgan/status/384780273721696256

—"I'd like to, uh… "pay with clinkle."

—"Excuse me?"

—"Uh, pay with… clinkle?"

—"Do you need the key to the restroom?"

—"Pay… with… clinkle"

Re: Introducing Snapcash

#12

Post by kevando » Mon, Nov 17, 2014, 8:59 PM UTC

untog wrote: post #6

This kind of thing will be the death of Venmo, and makes me wonder why they haven't moved faster. An app that already has your social network will have more success adding friend payments than your friend payments app trying to add a social network.

I never had an issue finding people on Venmo. It was more the barrier of getting people to download Venmo, so I agree this will probably crush venmo.

Re: Introducing Snapcash

#13

Post by jmuguy » Mon, Nov 17, 2014, 9:00 PM UTC

I wonder if this is replacing Squarecash?

Re: Introducing Snapcash

#14

Post by jnks » Mon, Nov 17, 2014, 9:00 PM UTC

Square loses something like 25 cents per Square Cash transaction [1], and now they want more transactions? I wonder if Snapchat is paying those fees, and if so how they think they're going to make that money back from their users.

[1] http://qz.com/248572/squares-search-for-a-viable-business-mo...

Re: Introducing Snapcash

#15

Post by chipgap98 » Mon, Nov 17, 2014, 9:04 PM UTC

jmuguy wrote: post #13

I wonder if this is replacing Squarecash?

I think this is being built on top of square cash.

Re: Introducing Snapcash

#16

Post by edkennedy » Mon, Nov 17, 2014, 9:06 PM UTC

angryasian wrote: post #5

so now people can pay for sexting/nudes, actually sounds like a good use case

I predict that use and paying a local drug dealer will be the primary use in the demographic they go for.

Re: Introducing Snapcash

#17

Post by arasmussen » Mon, Nov 17, 2014, 9:06 PM UTC

> "After you enter your debit card, it’s securely stored by Square, who will swiftly process your payment and send cash directly to your friend’s bank account."

That first comma makes that sentence so hard to read..

Re: Introducing Snapcash

#18

Post by untog » Mon, Nov 17, 2014, 9:06 PM UTC

steakejjs wrote: post #8

Seems like this might impose on Clinkle quite a bit? Who is going to download clinkle when they can do the same thing from snapchat? Seems neat to me, and pretty unexpected. One scary thing is just how bad a lot of passwords are for mobile applications. I'm sure it is even easier to brute force passwords on mobile and send a snapcash to yourself

Who is going to download clinkle

Let me stop you right there...

Re: Introducing Snapcash

#19

Post by free2rhyme214 » Mon, Nov 17, 2014, 9:06 PM UTC

kevando wrote: post #12

untog wrote: post #6

This kind of thing will be the death of Venmo, and makes me wonder why they haven't moved faster. An app that already has your social network will have more success adding friend payments than your friend payments app trying to add a social network.

I never had an issue finding people on Venmo. It was more the barrier of getting people to download Venmo, so I agree this will probably crush venmo.

Exactly. Removing barriers to entry is huge for gaining adoption and traction.

I would expect similar functionality in other messaging apps soon.

Re: Introducing Snapcash

#20

Post by untog » Mon, Nov 17, 2014, 9:08 PM UTC

kevando wrote: post #12

untog wrote: post #6

This kind of thing will be the death of Venmo, and makes me wonder why they haven't moved faster. An app that already has your social network will have more success adding friend payments than your friend payments app trying to add a social network.

I never had an issue finding people on Venmo. It was more the barrier of getting people to download Venmo, so I agree this will probably crush venmo.

Finding people that are already on Venmo, sure. But I meant that when you start a new social network you have zero users, and that's a problem.