Do you still owe your mate the same fiver that you've owed him for the past two years? Well you’ll soon be able to pay him back via Snapchat.

The popular messaging service has paired up with Square, the mobile payments service people, for a new partnership that will let you transfer money between accounts on Snapchat. Here’s a look at the official announcement made by Snapchat on Monday: “The product you’re seeing today is fast, fun, and incredibly simple. “After you enter your debit card, it’s securely stored by Square, who will swiftly process your payment and send cash directly to your friend’s bank account. Just swipe into chat, type the dollar sign, an amount (e.g. $11.25), and hit the green button. https://www.youtube.com/watch?v=kBwjxBmMszQ “We set out to make payments faster and more fun, but we also know that security is essential when you’re dealing with money. “Square has a ton of experience in this area and our teams have been hard at work to make Snapcash a great experience for everyone. For now, Snapcash is available to Snapchatters in the United States who have a debit card and are 18 or older.” Snapcash is currently available on the Android market in the US and according to reports from Mashable, the service is expected to roll out onto iOS soon – no word on when it’s coming to Europe just yet.