Snapchat’s peer-to-peer payment service has given up the ghost.
The ephemeral social media app announced on Monday that it would be discontinuing Snapcash after four years.
The service was introduced in 2014 — at the peak of Snapchat’s popularity — in a partnership with Square as a way to take on payment platform Venmo.
Users were able to link a bank account or debit card to their Snapchat profiles, and could send or request money in the app’s chat feature by writing the desired quantity beginning with a dollar sign.
Over the years, however, Venmo continued to gain steam, and the market saw money-sending services offered by companies like Google and Facebook.
Snapcash will disappear on Aug. 30.
Snapchat parent Snap closed Monday up 12 cents, to $13.39.


