Social media platform SnapChat will shut down its P2P payment feature, Snapcash, as of August 30, after launching less than four years ago in 2014.

Snapcash has faced a lot of competition from more popular P2P apps such as Venmo, Apple Pay, SquareCash, PayPal and even the banks-backed Zelle, which reported a $25 billion in payments volume in April. PayPal owned Venmo, as of April, said it processed $12.3 billion in payment volume, up 80% versus last year. PayPal will report updated numbers later this week in its earnings call.

Even social media giant Facebook is ramping up its P2P services, not only through its messenger services via partnerships with banks, but through mobile messenger WhatsApp. Currently, Facebook is battling its own issues from the Indian government, which has delayed it from launching P2P features via WhatsApp over data security concerns.

It is clear that for Snapchat competition from the plethora of P2P apps was getting too much to keep up with. However, there could be more to the story than just too much competition. At least, that’s according to some people on Twitter.

According to some users, another reason adding to SnapChat’s decision for shutting down its Snapcash feature is because it was gaining a reputation for promoting illegal businesses.

A Twitter user, @wcStudio101, put it this way: “Snapcash ended up a way to pay adult performers for private content over #Snapchat.”

Another Tweet read:

https://twitter.com/AndroidINForum/status/1021157457807069184

The danger of Snapcash being used for something like this seems plausible given that SnapChat’s purpose is to let users send pictures and videos that disappear within seconds directly to each other.

Perhaps, this is a warning for all P2P apps to be pay more attention and be vigilant to the types of negative transactions that can take place on their platforms. Today on Twitter, it’s SnapCash for this, last week it was Venmo getting ridiculed for making it easy to buy or sell drugs.