The Los Angeles based Snapchat, which enable users to send pictures that disappear automatically, in a given set of time, is making a gigantic move towards expansion. Having a total worth of 10 Billion, Snapchat is threatening other web based companies like Facebook and Twitter for a much greater future. Recently, there have been reports on the expansion plan of Snapchat which might include a Payment service for its users, enabling them to make online transactions and much more. Do jump ahead for more details.
According to the trademarks file findings this weekend, Snapchat might be expected to launch its own mobile payment service which will allow users to pay money via the Snapchat account. Documents revealed that the transient chatting host is looking forward for peer-to-peer transactions, payments as well as online purchases.
“Computer application software for processing electronic payments to and from others that may be downloaded from a global computer network” (Trademark Serial # 86335306)
‘’Electronic transfer of money for others; providing electronic processing of electronic funds transfer, ACH, credit card, debit card, electronic check and electronic, mobile and online payments’’ (Trademark Serial # 86335307)
Since Snapchat is dipping in in-app purchases, sponsorships and advertising we can conclude that it is following Wechat’s footsteps which propose likewise features in Asia. However, it is hard to anticipate the route that Snapchat will take in the Payments category, but it’s spotted that it does offer transactions or exchange of money between friends or purchase online from within the app.
Like the idea of Snapchat offering a payment service? Would you use such a service? Do you want to see a money exchanging medium between friends? Do let us know your insights in the comments section and we'll keep you updated in the meanwhile.