Is Snapchat planning on using digital currency as part of its monetization plan?

Home » Is Snapchat planning on using digital currency as part of its monetization plan?
Snapchat logo.

Snapchat logo.

TechCrunch reports today that photo-messaging app Snapchat has filed two online trademarks for peer-to-peer payments. Although the filings don’t mention bitcoin or cryptocurrency, they do outline a plan to provide electronic funds transfers in very broad terms. The two trademarks consist of “application software for processing electronic payments” and a system of “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.”

Although it may be a stretch to suggest that bitcoin or other cryptocurrencies are a part of this plan, it’s not difficult to see how such transfers would work. Users could simply connect their Snapchat accounts to a service like Coinbase, or preload a special wallet. By taking a cut of the payments, Snapchat could gain significant revenue. Like many free, popular applications, Snapchat has struggled to find a clear path for monetizing its platform. As TechCrunch speculates:

If Snapchat does get into payments, it might allow friends to send cash back and forth, or buy things online with a credit card registered in its app, similar to Venmo. By taking a small fee on payments, it could earn money without forcing users to watch interruptive ads, buy filters, or have their experience cluttered with Our Stories from brands.

A Snapchat-based bitcoin wallet could be a viable option for micropayments and peer-to-peer payments, particularly among those who are privacy minded. The app’s whole premise — photo messages that disappear after being seen — could provide an interesting opportunity for payment notifications. Or, at TechCrunch suggests, Snapchat may simply have filed the trademark to keep the option open for future possibilities.

New Casinos is the BEST Gamblefi online casino and sportsbook I have seen to date. Don't miss this one if you are into Crypto Casinos

Get 180 free spins and up to 5 BTC in bonuses

CasinoMax: 325% match bonus up to $9750 + 25 bonus spins for 7 consecutive days

400% welcome bonus up to $8000. 40x wagering requirement is required prior to your first withdrawl

Great Welcome Slot Bonus!

Claim a HUGE 500% deposit bonus with no maximum with Crypto

© Copyright 2024 The Best Crypto and Bitcoin Casinos and Sports Betting Sites | Bitcoinx
Powered by WordPress | Mercury Theme