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 th…
Or pushing the 'cash for pics / videos' .. industry? further. It already exists, now it's even easier.
People are already using Venmo. Nobody is going to switch to Snapcash or Clinkle.
But Venmo hasn't won. Outside the Valley, I don't know anyone who uses it. (although, mostly the same with SquareCash)
I was surprised to come here and see all the positives for Venmo. I have zero interest in a payment service that is going to hold my money until I request a cash out. Here in the midwest, I've been able to convince suburban parents to use Square Cash via the email cc feature. It's about as painless as it can get, particularly when they still send checks around to each other all the time.
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.
Recently I have been taking the approach of "I sent you $15 for XYZ on Venmo if you want it you need to signup" because it's one of the few ways I can get them to do it. I hate to hold their money hostage like that but if I don't there isn't a great way for me to give them money other than paying for them up to what I owe them the next time we hang out (which I am bound to forget).
I agree, I feel like Snapchat/cash will kill in this space due to ease of use.
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…
> it seems exceedingly unlikely to ever be a problem on a scale larger than a handful of cases.
All it takes is a "handful" (or less) when child porn is the subject. I wouldn't go anywhere near money transactions given the risks.
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 th…
Or pushing the 'cash for pics / videos' .. industry? further. It already exists, now it's even easier.
Although it works for that, I feel like that would be more of a carrot for users so that they can transition to a more reputable business model. They can use that for a short time to get the card data, but then begin selling their own goods etc. I would be surprised if they left it at this considering how young their userbase is. Mixing 'cash for pics' with a userbase predominantly under 18 in a multi-billion dollar business does not sound like a good idea to me.
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 s…
> The same exact concerns exist in other places and have been dealt with by a large number of companies at this point
Can you identify a similar set of circumstances where this has been successful for more than a brief period?
I believe we in Denmark are very lucky to have one of the best banking systems in regards to keeping up with technological development.[1][2] Snapcash seems to be the first app that approaches what we've had for a while now: http://danskebank.dk/en-dk/personal/ways-to-bank/pages/mobil... [1]Except for Japan and all their NFC stuff... [2] http://en.wikipedia.org/wiki/NemID has been WILDLY debated though.
Danske Bank has offers that in Finland too, but I've never heard of anyone actually using it..
While we're talking about Danske Bank, here's a "funny" story about it: After Danske Bank bought out a Finnish bank called Sampo Pankki, they switched their online banking application to use Java. And it didn't work properly on Linux. I actually switched my bank because of that bs.
But what about social financial software? Don't get me wrong, I don't want my online banking in Snapchat. But sending money to friends is a very different action - it's inherently public, for one.
Public? It is a private transaction between two parties. This is why I don't understand Venmo's interface that tells me about transactions that I'm not involved in. I always set my payments to private, admittedly it does make for an interesting feed to browse for those who transact publicly.
> "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..