24 October 2014

Snapchat files payments-related trademarks

17 July 2014  |  3929 views  |  0 Woman with shopping bag

Photo sharing app Snapchat could be preparing a move into the payments arena, two recently filed trademarks suggest.

Filed earlier this week and first spotted by TechCrunch, the trademarks cover:

  • "Computer application software for processing electronic payments to and from others that may be downloaded from a global computer network"

And:

  • "Electronic payments processing and the "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"

Snapchat is refusing to comment on the filings but the firm, which last year turned down a $3 billion acquisition offer from Facebook, has been busily looking into how it can turn its huge popularity into hard cash.

So far the focus has been on advertising but payments and P2P money transfers offer another option. As The Next Web notes, Snapchat investor Tencent has already taken a similar route in China, integrating payments into its popular WeChat app.

Meanwhile, speculation recently bubbled up that Facebook could make a similar play after it bought in PayPal boss David Marcus to head up its Messenger business.

KeywordsSOCIAL MEDIA

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