Snapchat change body mobile wallet: Knock A dollar letter to friends to pay

Tencent technology news Mobile internet boom, mobile payment and mobile chat tools are two very popular plate. This Monday, with more than 100 million users of the read-burn chat sharing tool Snapchat, announced will work with square, the introduction of friend payment features. Snapchat a buddy payment feature before Http://www.aliyun.com/zixun/aggregation/1560.html ">facebook's Messenger."

It is worth mentioning that, with the valuation of more than 10 billion dollars, Snapchat began to seek a breakthrough in the business. It first published a mobile advertising, the first launch of the payment function, in addition, according to a number of media reports, Snapchat will also launch a client's mini media portal, to provide news, music, video and other services, and will insert ads.

Snapchat this feature is called Snapcash. Users to chat and share with friends, only need to enter a dollar and amount, you can achieve convenient personal remittance. Analysts said that with the implementation of the payment function, Snapchat will gain a huge space for mobile e-commerce in the future, such as Twitter and Facebook, the introduction of the client's internal fast shopping features.

In payment, Snapchat and the U.S. mobile payment company Square, in fact, one-on-one payment function, very similar to the other side of the "Squarecash" function. As we all know, in the U.S. mobile payment market, Square is only the second-line manufacturers, facing Apple payments, Google Wallet and PayPal and other big manufacturers squeeze. By working with Snapchat, Square also found 100 million potential users for its remittance services.

Currently, this remittance service temporarily limits the United States area, the user must reach 18 years old, whether in the future to extend to more countries and regions, it is still unknown.

If you want to use this service, Snapchat users must register the square account and provide financial information such as credit cards, which will be kept on the square server to ensure security.

Security concerns

Relying on innovative reading-and-burn mode, Snapchat becomes a dark horse in mobile social tools, but the news of its friend payment function has sparked many concerns-can security be ensured?

Previously, Snapchat had several successive security failures.

The federal Fair Trade Commission had previously accused Snapchat of misleading users about data collection and had not told that the chat information would be saved. Snapchat and the agency reached a settlement agreement in May, Snapchat said it would allow the Trade Commission to monitor its own collection of user data for 20 years.

Another January this year, Snapchat's background system was hacked, a total of 4.6 million user accounts were hacked, hackers also published on the network stolen account.

When publishing the remittance function, Snapchat also deliberately stressed that there would be sufficient security. The company said in an official post that Snapchat wanted to help users achieve fast and easy remittance services, but was also aware of the importance of security for financial payments.

Snapchat said that in the area of payment and security, the partner company, Square, which has a wealth of experience, can secure account information.

How to use it?

With the buddy payment feature, Snapchat also extends social-sharing content from photos and videos to the "Money" field.

After registering for Square's account, in the chat process, only need to enter the dollar amount that needs to be paid, the system will recognize the dollar sign, and display a green Payment button, the user clicks the button, can confirm the payment.

The personal transfer and payment function is a sub section of the mobile payment market. Snapchat the launch of the function, and PayPal, can and other peers to launch similar functions.

Industry trends

In fact, there is a trend in the industry that has a large user of mobile chat tools, start to develop or bundle payment services, thereby becoming a mobile wallet, hoping to enter the payment market by this way.

Previously, Facebook's boss, Zuckerberg, has confirmed that its 500 million-user chat Messenger will be bundled into a service-rich wallet in the future.

Facebook has dug up PayPal's former president, Marcus, who has joined the Messenger business unit and is now stepping up the development of payment and wallet functions.

But the low-key Snapchat has been the first to achieve the integration of payment functions before Facebook.

Snapchat's boss Spiegel in the media interview low-key said that the future Snapchat will not become and PayPal, can and other manufacturers fierce competition in the payment company. It should be pointed out that Snapchat's friend remittance is currently a free service, no charges.

The media analysis pointed out that purse function bundle, will bring the huge revenue growth space for the Snapchat. For example, it will be with a number of media cooperation, the introduction of Mini Portal function, the future can also be quickly realized paid content viewing function. Morning）