Snapchat Is Becoming Snapcash?

Social Media is now encroaching on the ecommerce industry.  On Monday, Snapchat sent a jazzy video to their subscribed users about the new Snapcash feature.  The quick picture app is now pairing up with Square Cash for a payment to payment option on the Snapchat app.  Simply, users 18 and older can add their Visa or Mastercard to Snapchat and pay their friends from the app.  Snapchat will keep their debit cards on file.  But if your friend does not accept your money offer within 24 hours, your money will be refunded back into your account.

This seems all good in theory, but does social media really need to start becoming a bank station as well?  I truly think social media and personal finances should be kept separate.  When I think of transferring money, I don't go to "I need to send a selfie along with this $20."  Snapchat might be crossing the line on this endeavor.  And does anyone not remember Snapchats hack last year, where over 4 million accounts and their information were available for anyone?  Imagine that with debit card information. I only want my debit card linked with my banking app, because that is the only app I feel is secure enough for that information.  Snapchat has had some security issues, so that could be a major setback for them.

For me, social media is about connecting with others, but not through money transfers.  Let the mobile payment apps be mobile payments, and let me focus on my Snapchat selfies on Snapchat.