FaceCash: Mobile payment system

Review posted Tue 18 Oct '11
FaceCash FaceCash Info Visit

Paying by mobile phone is quite a popular application these days to say the least but this one has a different take on it and can be used with iPhone, Android, Blackberry or any phone with a web browser. iPad and iPod Touch can also run the app.

To use the system you’ll have to be purchasing something in a participating store but the number of these is ever growing. There is also no direct link to a bank account and so funds have to be deposited in to a FaceCash account in order to use it.

Quite simply the system works on a bar code and a picture of your face. When opening an account you’ll need to upload a photograph amongst other ID information requested, and deposit a sum of money into your account. The system will then generate a barcode with your FaceCash account number appearing underneath.

When it comes to paying for something, simply inform the merchant that you’ll be paying by FaceCash, bring up the barcode stored in your phone and unless you’ve stolen it a photograph looking just like you will appear on the cash register. The transaction is recorded in the history function and there are reward points to be earned.

The system does have the capability to store other account numbers that have historically needed a plastic card and allocate bar codes to them as well. These however are typically of the loyalty or discount variety and not linked to any payment function.

Although it’s currently not going to rival credit cards in any significant way due to the sheer size of their coverage, it is a cheaper option for merchants so the service might spread quickly. The other thing of course is that by depositing money into the FaceCash account you’ve basically already cleaned your bank account out before making any purchases. With a credit card you don’t really have to pay for a while longer.

It might have a way to go before it becomes the first choice of many but it can certainly clear your wallet of a lot of plastic.

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