Snapchat to shut down peer-to-peer payment service Snapcash

Snapcash which started as a way of splitting bills among friends ended up being used as a way of exchanging private content, and now parent Snapchat wants to put it to rest.

Four years after launching the peer-to-peer payment service, Snapcash will be shutting down on August 30, TechCrunch reported.

Snapcash was the first product Snapchat built in partnership with another company called Square.