SnapScan Wallet now lets users send money to each other

The SnapScan app has launched a new version of its Wallet feature, with an update that lets you send money to other people.

The updated app enabling peer-to-peer payments is now available for iOS and Android users.

“Our research showed that repaying a friend for small purchases like coffee or lunch was a major pain point,” Head of Growth and Marketing, Caitlin Spring, said in a statement.

“The SnapScan Wallet gives people from different banks an instant, free way to transfer money.”

How the SnapScan Wallet app lets you send money to people

The SnapScan app works by way of QR codes that users scan with their phones to make payments.

To transfer funds using SnapScan Wallet, users can click on the option and select a recipient. They can then add an amount and payment reference, after which a security prompt will confirm the transfer.

Once a user receives the funds, it is added to their in-app wallet. You can use these funds at businesses that offer the SnapScan payment method.

Neither the sender nor receiver will incur transaction charges for transfers. Transfers can take place at any time and with any amount.

You can check out a video demonstrating the new feature below:

Meanwhile, SnapScan also introduced the ability for users to verify their app using their SA ID document or supported bank account.

Verified app users can transfer funds from their app Wallet to their linked bank account. However, withdrawals incur a 3.5% charge.

You can find out more about the app on the SnapScan Wallet website.

Featured image: Supplied/SnapScan

Read more: Sanlam launches Savings Jar app for kids