Barcelona (Newsroom/Agencies).- Snapchat, the mobile application that has become popular in the United States for sending photos that self-destruct, has partnered with the payment company Square Inc. so that users can send money to their contacts.

Snapchat, which recently received an investment from Yahoo! which valued the start-up at $10 billion, will make the new functionality, called Snapchat, available to all users over the age of 18 who owns a US debit card (Visa or Master Card), according to the company announced in a statement. How To Send Money On Snapchat?

The collaboration with Square allows the company to have access to Snapchat users, who share more than 700 million ‘snaps’ a day. In this way, Snapcash enters the market of applications that offer the possibility of making instant money transfers, such as Square Cash and Venmo, and are aimed at resolving, for example, situations such as having to pay the account of the dinner in a restaurant.

It should be remembered that other large technology companies have recently announced mobile money transfer systems: Apple launched Apple Pay last month and Twitter partnered with a French bank to transfer money via tweets. Facebook, for its part, is also developing a similar feature.

For Los Angeles-based Snapchat, the new functionality is the second product it has developed that has revenue potential, aside from advertising, which it introduced last month.

The security of the debit card data will be in charge of the San Francisco Square company. Snapchat’s level of privacy was called into question earlier this year when the company acknowledged that it had a security breach that exposed 4.6 million users.