W+K Director of Communications + Behaviour Planning, Danni, brings us some news about the future of Snapchat:
Snapcash from Snapchat has just launched - check out the amusing video:
If you don't have time, Snapcash is basically a fast way to transfer money to another user without doing a bank transfer. Sign up your debit card to your Snapchat account (enabled by Square Cash) and 'snapcash' money easily. Snapcash is only available in the US and available to those who are 18+ with a debit card.
Other transcational methods we’ve seen that empower young people to manage their own money are from a relatively new company, Osper. They offer a prepaid debit card for 8-18 year olds, giving children financial freedom to learn the value of money. All monitored by a parentally controlled app.
The fact that Snapchat has evolved their proposition beyond ‘chatting’ means they are listening and responding to what young people want, and the way they communicate with one another.
More news of how they’re going beyond being a simple messaging platform is the leaked news of Snapchat Discover.
Snapchat are rumoured to be in talks with popular publishers: CNN, Mail Online, ESPN, Comedy Central, Cosmopolitan, Buzzfeed, Spotify, Vevo, National Geographic, Vice and People Magazine, to provide their users with entertaining content including articles, videos and music. Beyond this, the Discover platform is a further way for brands to reach Snapchatters beyond the recent advertising approach, as publishers will be able to sell ad placements within their content, and in true Snapchat style, will disappear once you’ve seen it.
These developments are currently unveiling in the US, which will no doubt soon be over here.
As Snapchat breeds themselves into a can’t-be-without tool for young people, from messaging to entertainment and now transactions, we can only expect more and learn more from this social guru.