Today we look at FaceCash, a payment application for mobile devices. Users upload a photo and send money from their bank accounts to FaceCash. This image is displayed on the user’s mobile device, along with a barcode.
How does it work?
You select on the phone app, how much you would like to spend at the store. At the point of sale, the photo is downloaded (just a computer with a web browser using the web-based FaceCash Point of Sale interface) so that merchants can verify the user’s identity and charge their FaceCash account accordingly. Integration to the point of sale is required.
- A visual identification of a consumer, for approval of a payment
- A flat transaction fee for merchants
- Ability to integrate to a rewards program
- Free web-based point of sale for merchants
- Free person to person funds transfer
The FaceCash application is one that takes payments to a more visual level, with an ease of sight to collect a payment for a transaction. We hope it reaches our shores soon, so that we can give it a try…