It appears that Snapchat’s been busy conceptualising ways to digress from (or add on to) its photo/video messaging application – the pictorial mobile conversation starter has apparently submitted a bunch of trademarks to get its foot into the payments space.
It’s filed two trademarks this week (11 July), indicating that there’s a possibility that we might be seeing online payments, peer-to-peer payments, and money transfers available on the app or on another affiliated app. Maybe Snapchat will name it Snappay?
What the trademarks cover is a “computer application software for processing electronic payments to and from others that may be downloaded from a global computer network”, as well as an “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”.
Fusing into an app?
How this'll integrate into its less serious app, if it’s going to be on the same platform, is questionable. Maybe you can send your friend a Snapchat with a “you owe me money” caption and he’ll instantaneously reply by refunding you your dosh (we’re taking a stab in the dark here).
On a more serious note, what this might mean for you is having a social app that allows friends to send money between each other or even purchase items online with a credit card registered with its app.
But we foresee that it'll take Snapchat a while before it unveils an update or new product of this scale. Until then, you can revel on its new geo-filter feature that lets you add a custom, location-specific sticker to your photo. And it’s pretty smart too, it only unlocks when you’re in a particular city or place.