FaceCash

FaceCash

A smartphone payments system from Think Computer Corporation, Palo Alto, CA (www.facecash.com) that replaces the traditional plastic debit card. Anyone with a smartphone can use it by opening and depositing funds into a FaceCash account. When making a purchase at a participating store, the merchant scans a barcode displayed on the phone, and a photo of the customer's face is sent to the cash register for visual ID. The FaceCash app can also store the barcodes from certain other loyalty and ID cards, eliminating the need to keep them on a key chain.
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Aaron Greenspan, a former Harvard student who owns a mobile payment system called FaceCash, asked for more time to oppose the application, but never filed any objection within the extended time period.
Now Greenspan, who developed the mobile payment app FaceCash, has asked for an extension to file an objection to Facebook's attempt to trademark "face.
That changed today, with several point of sale (POS) software vendors announcing their planned support for the FaceCash mobile payment system in their respective products.
By year-end 2011, POS offerings from Dinerware, POS Lavu, Own Point of Sale, POSitouch, Posera Maitre'D, RPOWER, ERPLY, MI9, SalesVu, and ShopKeep will integrate with the FaceCash API, which allows POS software to work with the FaceCash payment network.
It's great to see so much enthusiasm around FaceCash," Aaron Greenspan, Think's CEO stated.
With the FaceCash API, POS software vendors can create a new tender type button for FaceCash mobile payments.
The POS Lavu iPad POS System with FaceCash will provide the greatest payment technology available in the market today," said Andy Lim, CEO of Lavu, Inc.
Some services by PayPal, Obopay, Square, Zong, and FaceCash already allow you to pay for purchases with your cell phone, but so-called digital wallet services are scheduled to hit the market soon.
the parent company of SUBWAY, the largest single-brand restaurant chain in the world, and Think Computer Corporation announced today that FaceCash will now be accepted at certain SUBWAY locations in California.
com, consumers pre-fund their FaceCash accounts by transferring money from traditional checking or savings accounts.
5% per transaction, merchants utilizing FaceCash achieve savings of 50% or more relative to traditional credit and debit card processing fees.
The first time a buyer makes a purchase using FaceCash, the merchant matches the photograph provided during the sign up process to the consumer's driver's license or passport.