Snapcash is following the far larger networks Facebook and Twitter into the realm of social payments and commerce, which analysts say is a promising tool for generating revenue and keeping users active within the apps. Their expansion into payments is, however, a threat to established players, most notably retail banks that profit from cash transfer and wire fees, as well as PayPal, the market leader.

http://www.ft.com/intl/cms/s/0/ba7221a8-6ea5-11e4-a65a-00144feabdc0.html?ftcamp=published_links%2Frss%2Fcompanies_financial-services%2Ffeed%2F%2Fproduct&siteedition=intl#axzz3JiAQ1blQ