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Introducing Snapcash

blog.snapchat.com

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Re: Introducing Snapcash

#61

Post by crazypyro »

otterley wrote: post #56
crazypyro wrote: post #38

Earlier quoted context omitted.

....Because that's not possible today with current technology? edit: I seriously don't understand how you immediately jump to that being the new functionality when sending payments today is as simple as logging into paypal or any numerous other payments sites.... Not to mention the age requirement of 18? This comment is just fear mongering.

If you think the age requirement is even remotely effective, you're fooling yourself. I'm not suggesting that it will be frequently misused -- but even one mishap could seriously harm their business. Law enforcement takes child pornography more seriously than just about any other offense, and money on the table makes it even more serious.

Its age requirement + debit card. I think that is a fairly effective blocker. At the very least, it'll almost completely stop any chance of children under 15-16 from joining the program and sending/receiving money. There will always be chances of abuse with any platform that allows sharing. I just don't understand how this announcement is anymore scary than other social media adding into social payments, except for the typical stereotype of Snapchat only being used for nude pictures.

If you are speaking about adults selling pictures of abused children back and forth, this'll be no different (even less secure) than current technologies that pedophiles use to avoid detection.

Re: Introducing Snapcash

#62

Post by crazypyro »

enneff wrote: post #54
crazypyro wrote: post #38

Earlier quoted context omitted.

....Because that's not possible today with current technology? edit: I seriously don't understand how you immediately jump to that being the new functionality when sending payments today is as simple as logging into paypal or any numerous other payments sites.... Not to mention the age requirement of 18? This comment is just fear mongering.

I really can't see teenagers setting up a PayPal account in order to receive money for nudes. I can, however, see someone asking for cash through the very same app that they're using to send nude pictures. I agree with the GP, this is gonna get interesting.

Setting up a PayPal account and setting up an age-locked account that requires an associated bank account (in the form of a debit card) appears to be more effort on the SnapChat payments side, at least to me. The only reason for this fear (which really should be associated with any social media micro-payments system) being touted here is because of the reputation of SnapChat as an app for sending nude pictures. The same exact concerns exist in other places and have been dealt with by a large number of companies at this point.

Re: Introducing Snapcash

#63

Post by dmix »

enneff wrote: post #54
crazypyro wrote: post #38

Earlier quoted context omitted.

....Because that's not possible today with current technology? edit: I seriously don't understand how you immediately jump to that being the new functionality when sending payments today is as simple as logging into paypal or any numerous other payments sites.... Not to mention the age requirement of 18? This comment is just fear mongering.

I really can't see teenagers setting up a PayPal account in order to receive money for nudes. I can, however, see someone asking for cash through the very same app that they're using to send nude pictures. I agree with the GP, this is gonna get interesting.

...Not that anything is wrong with exchanging nudes for money.

But I do expect some scrutiny due to the oh-so-popular puritanism Americans hold in public life towards sex (both democrats and republicans) yet largely ignore in private.

Re: Introducing Snapcash

#64

Post by Vraxx »

hemancuso wrote: post #50
Vraxx wrote: post #32

Earlier quoted context omitted.

Even if the users of snapchat were particularly concerned with the security of this feature, they alleviated that concern in the post by stating that all of the financial security will be handled by Square which is building it's reputation of security in mobile payments.

I'd like to see a venn diagram of Snapchat users and people who actually know who/what Square is

Fair, but even without the information of who/what Square is beforehand, you can look them up. I'd be more likely to trust them than Snapchat simply because they've been around and have multiple payment solutions out already. And even if you can't be motivated to do a few quick searches, you could likely make some assumptions that snapchat didn't pick up some random company off the street to handle their finances.

Re: Introducing Snapcash

#65

Post by [deleted] »

crazypyro wrote: post #35
edkennedy wrote: post #16

Earlier quoted context omitted.

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

I can't imagine any drug dealer would want to put their transactions into a bank account, at least if they sell anything more than casually.

[deleted]

Re: Introducing Snapcash

#67

Post by Vraxx »

leeber wrote: post #59

Hopefully they require a password or a PIN each time you send a message with cash in it. Otherwise anybody could steal money from you as long as they can get into your phone and open snapchat.

Square uses the CVC number on the back of the card as a pin for this currently. It's not the most secure way to handle it imo, but it does stop the general user from picking up a phone and stealing all their money from snapchat (if this feature carries over to snapcash).

Re: Introducing Snapcash

#68

Post by enneff »

dmix wrote: post #63
enneff wrote: post #54

Earlier quoted context omitted.

I really can't see teenagers setting up a PayPal account in order to receive money for nudes. I can, however, see someone asking for cash through the very same app that they're using to send nude pictures. I agree with the GP, this is gonna get interesting.

...Not that anything is wrong with exchanging nudes for money. But I do expect some scrutiny due to the oh-so-popular puritanism Americans hold in public life towards sex (both democrats and republicans) yet largely ignore in private.

Snapchat has come under fire because a significant portion of those nudes are technically child porn.

Re: Introducing Snapcash

#70

Post by dmix »

xenophin wrote: post #66

Paid for porn industry will carve out a niche - probably disrupt entire industry. Other users wont touch it. Guaranteed revenue for snapchat though.

I love reading HN's wild speculation about other companies businesses that they come to after reading a headline or two.

Just like the countless comments here, years ago, expecting Twitter to die because it won't make money.

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