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.
Yeah, 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.
[1] http://qz.com/248572/squares-search-for-a-viable-business-mo...