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Introducing Snapcash

blog.snapchat.com

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Re: Introducing Snapcash

#71

Post by serve_yay »

free2rhyme214 wrote: post #26
david_shaw wrote: post #22

I think the primary challenge is convincing users that it's secure. Snapchat has a relatively poor reputation in security (whether that's deserved or not), and everyone I know just uses Venmo. Venmo has Facebook integration, so if you're Facebook friends, it's really easy to send money. It seems like integrating into a platform that's supposed to be ethereal is a weird fit, but who knows -- maybe it'll catch on.

I disagree. The primary users of Snapchat aren't worried about security.

They also aren't currently sending each other money. I hate to be a naysayer to what I think is a pretty cool product, but Snapchat's terrible security reputation is well-deserved. But also this isn't very much differentiated from sending money with Gmail, Square, etc.

Re: Introducing Snapcash

#72

Post by crazypyro »

enneff wrote: post #68
dmix wrote: post #63

Earlier quoted context omitted.

...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.

Yeah, except there is no proof that there is any exchange of goods taking place in the overwhelming majority of these.

Do you think teenage girls and boys are really going to start selling their nudes? Just on a shallow examination of this possibility, it seems exceedingly unlikely to ever be a problem on a scale larger than a handful of cases. The social aspects of trying to sell "nude" pictures of yourself would be utterly taboo. The only market would be for people that you don't know, yet then the risk increases dramatically. There are already 100s of sites where they can do exactly this (pretending to be 18), yet its not happening, at least on the scale that the fear represents.

Re: Introducing Snapcash

#73

Post by a1a »

david_shaw wrote: post #22

I think the primary challenge is convincing users that it's secure. Snapchat has a relatively poor reputation in security (whether that's deserved or not), and everyone I know just uses Venmo. Venmo has Facebook integration, so if you're Facebook friends, it's really easy to send money. It seems like integrating into a platform that's supposed to be ethereal is a weird fit, but who knows -- maybe it'll catch on.

It's deserved. Gotta give it to them though, pretty bold move considering.

http://www.wired.com/2014/10/the-snappening-is-not-your-faul...

http://www.foxnews.com/tech/2013/12/27/snapchat-ignored-secu...

http://gibsonsec.org/snapchat/index.html

Re: Introducing Snapcash

#74

Post by UweSchmidt »

Even if you've posted a skeptical comment, do you doubt that one day sending money in a chat app will be totally normal?

When it's there it could be the foundation of hundreds of new business models and applications, and the reason a few household names went the way of Myspace...

Re: Introducing Snapcash

#76

Post by kevando »

joshstrange wrote: post #44

I have been a long time user of Venmo and have tried to get a number of my friends on it but most of my friends consider entering their routing/account numbers (if they even know what those are...) into an app and waiting a couple days too much work. They even consider Square Cash too much of a hassle but I can see all of those same friends using Snapcash without issue. I consider Venmo to be the best in this space c…

I never found that to be an issue getting friends to sign up for Venmo. You don't need to enter any info to accept cash. It was getting them to realize this was cash and not some magic points (because they dont know what venmo is). Snapchat should kill it here because people already understand and trust (for the most part) Snapchat and this is just a new feature - not an entirely new service to learn.

Re: Introducing Snapcash

#77

Post by dokem »

What an awkward monetization scheme. Seriously, this is why you passed up x billion dollars? Should've taken the money and tried to actually help the world. Silicon Valley greed and delusion at it's finest.

Re: Introducing Snapcash

#78

Post by rebel »

Seems like this is laying the groundwork for them to begin offering flash sales. Now they can send you a picture/video of a product and give you a limited amount of time to purchase it at a special price. This won't work without having payment methods on file though, and they won't be able to move worthwhile product without getting a base of cards on file first. That's the only logical business I see evolving from this move.

Re: Introducing Snapcash

#79

Post by [deleted] »

crazypyro wrote: post #61
otterley wrote: post #56

Earlier quoted context omitted.

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 t…

[deleted]

Re: Introducing Snapcash

#80

Post by mmanfrin »

Installed it, none of my coworkers can figure out how to actually send cash, or send anything. Right now it looks like a 'take a picture and add a dollar amount' photo app, except you can't export, can't send, can't do anything but take more app-only picture-expenditure receipts.

e: Looks like it's not actually snapcash -- but another so-named app. Looks like someone is getting a ton of unintentional downloads today.

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