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Square loses something like 25 cents per Square Cash transaction [1], and now they want more transactions? I wonder if Snapchat is paying those fees, and if so
by jnks 12y ago
Square loses something like 25 cents per Square Cash transaction [1], and now they want more transactions? I wonder if Snapchat is paying those fees, and if so how they think they're going to make that money back from their users.
[1] http://qz.com/248572/squares-search-for-a-viable-business-model-just-got-more-desperate-thanks-to-amazon/ http://qz.com/248572/squares-search-for-a-viable-business-mo...
- jpalacios 12y agoGiven they will have the debit card saved, perhaps Snapchat is thinking it will be much easier to offer products to their users in the future.
- smackfu 12y agoYeah, it's odd. Competitors like Venmo rely on not putting the money directly into the recipients bank account until they cash out. So they can make a little interest money off that directly, and more importantly, any transactions that come off of someone's balance are free since they are just moving money around inside their computers.