Right, jokes out of the way. It looks like the ephemeral messaging service, which is quickly turning into more than just an ugly selfie sharer, may soon be getting a feature to allow users to send peer-to-peer payments as well as money transfers and other online payments according to two Trademarks the company filed earlier this week.
The two trademarks, owned by Snapchat and filed by an attorney at Cooley, the companies law firm, will allow for the following:
- “Computer application software for processing electronic payments to and from others that may be downloaded from a global computer network” – Trademark Serial # 86335306
- “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” – Trademark Serial # 86335307
This is big business. With these two trademarks Snapchat could allow you to pay for goods through the Snapchat app, it could also allow you to send money to your friends, this could also allow for users to purchase items from Snapchat such as filters, stickers, and other things to make your 10 second pictures look awesome. Snapchat could also become its own ecommerce system giving users the ability to purchase items exclusively through the platform.
Imagine a big “hip” brand like Nike offering a flash sale on a pair of cool sneakers and the only way you’d be able to purchase these sweet kicks is through Snapchat, of course, Snapchat would benefit from the added user base looking to benefit from these flash sales, it would also probably take a small percentage of the sale too.
Snapchat, what are you up to?