Snapchat tried letting their money-swapping service, Snapcash, fade to black without anyone noticing but they were unsuccessful. A TechCrunch reader recently discovered a code buried in their Android app which read, "Snapcash will no longer be available after %s [date]." TechCrunch reached out to Snapchat who confirmed that the service was closing up shop through a spokesperson who said, "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!"
While competitors like PayPal, Venmo, and Square Cash presented a more convenient, and streamlined means of electronically sending money to another person, Snapcash was also becoming involved in a much more problematic business where people were using the service to make financial exchanges that involved erotic offers.
Snapchat's decision to do away with Snapcash could be due in part to the company trying to avoid any PR nightmares down the road. If the service was trending in the wrong direction, it's best to let it go before Snapchat has to deal with a headache on a larger scale.
