Short messaging app Snapchat has banded together with mobile payment company Square to launch another payment service Snapcash.
The recently launched service permits Snapchat users to connection their debit cards to their account and send money to a contact by beginning a chat on cell phone, writing the dollar sign, entering a sum, and hitting the green catch, Snapchat wrote in its official Blog Post. The same is indicated in the feature below.
This move is in accordance with Snapchat's extension plans which esteemed at USD 10 billion in its late raising support. As per a late report by comscore, Snapchat is presently the third most prevalent app among millennials (18-34 year olds). The app is more famous than Twitter, Pinterest, Vine, Google+ or Tumblr inside millennials demographic.
"We set out to make payments speedier and more fun, yet we additionally realize that security is key when you're managing money" the company included.
Until further notice, Snapcash is accessible in the United States for users who have a debit card and are 18 or more established. Also, the Snapchat said that debit card data will be safely put away by Square, who will quickly transform the payment and send money straightforwardly to user companion's bank account.
This gimmick will be constrained by Square's penetration universally, and Snapchat will need to tie up with diverse nation particular shippers to abstain from getting into issues with government dominant voices in the separate nations. Despite the fact that US could be a guinea pig for this peculiarity, since doing fiscal exchanges over a cool messaging app may not draw in all the users. Also after the late news of Snapchat pictures being spilled on the net the security is still an issue.
Snapchat likewise advertised on Monday that it will bann all third party apps access to its apps to improve user privacy and security, however this still may not relieve the suspicious ones.
Indian e-commerce website, Flipkart is closing down its payment gateway business Payzippy, as it neglected to perform as per the organization's desires, says a report from Livemint,. The online retailer has propelled this different firm Flipkart Payment Gateway Services (FPGS) Pvt Ltd a year prior to give payment answers for traders. Flipkart launched PayZippy in July last year to compete with services such as CCAvenue and Paytm.
Additionally, Flipkart has made a "strategic speculation" in Ngpay (Jigrahak Mobility Solutions Pvt Ltd), a payment administration and a commercial center that presented mobile payments in India.
Ngpay seems to have a reasonably far reaching versatile application based marketplace, offering ticketing from IRCTC, numerous bus travel services, flight tickets, apart from recharging and top-ups, cinemas and event tickets. Payments are permitted through Mastercard, Visa, Maestro and American Express. I simply needed ngpay, and was informed that I'm its 3,850,027th client. It had raised $2.2 million from Helion Venture Partners in 2006. A Flipkart representative additionally said in an email proclamation to Medianama that, "Payments is center to Flipkart and we see this association offering ascent to the biggest portable payments mark in India. While we eliminate our own particular payments item, Payzippy, nothing changes for our clients, who will keep on appreciating all the profits of a sheltered and secure payment framework through Flipkart.com."
As of now, Payzippy's website is still live and other e-commerce organizations like Babyoye, Bluestone, Lenskart, Makemytrip, Yepme, Zansaar and so on are utilizing its administrations. The definite date for the closure of the administrations isn't unveiled.
Flipkart had additionally attempted to make Payzippy wallet work. While the payment gateway was a B2b item, the wallet was intended to be purchaser confronting, and will presumably run down with the gateway too.
