On Monday the messaging app Snapchat, which lets you send images and text that disappear soon after the recipient has viewed the message, announced that it would let its users send something more permanent—money.

Partnering with payments processor Square to handle all the sensitive information, Snapchat introduced “Snapcash,” which will detect a dollar amount when typed into the body of a message and allow the user to send that amount with a click of a green button appearing to the right of the text box. Snapchat CEO Evan Spiegel told Re/code that “none of the personal financial information from Snapchat users will reside on Snapchat servers.” Instead a Snapcash user will, in essence, be signing up for a Square Cash account and agreeing to Square's Terms of Service before using Snapcash.

That's a good thing too, given some of Snapchat's more egregious privacy fumbles in the last year—from ignoring warnings from Gibson Security that users' usernames and phone numbers could be easily tied together with minimal effort to suddenly making the people that Snapchat users communicated with the most publicly accessible in a list of “Best Friends.” In May, the messaging service had to settle with the FTC over its claim that all messages sent through Snapchat were “ephemeral” when, in fact, there were a number of ways for those messages to be saved.

More recently in October, a third party application that let users save Snapchat images and videos had 13 gigabytes of images stolen. Although Snapchat's servers were never breached in that incident, having its name associated with such a large incident might make users wary of trying Snapcash.

In any event, Re/code speculates that this deal might benefit Square more than it does Snapchat. “While both companies declined to comment on the terms of the deal, it’s likely that Snapchat is paying Square a small fee for each transaction it processes,” the site wrote. With the deal, Square will be able to collect the payment details of all Snapcash users. As with Square Cash, sending money via Snapcash appears to be free.

Snapcash is only available via an update to Snapchat through Android at the moment, though an iOS version will be available soon. Users must be 18-years-old or older, and the service will only work with a Visa or Mastercard debit card—no credit or prepaid cards allowed.

Square might be looking to repeat this feature with other social media or messaging services in the future, although a Square spokesperson told Ars "We don’t have any plans to share at this time." In an e-mail, Square did say that it was happy to make Snapchat's users its own, however. “Square Cash is the fastest way to send money to anyone and Snapchat makes it even easier to reach all of your friends and family. We are combining the strengths of both of our services to make exchanging cash part of mobile conversation,” a spokesperson said.