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July 22, 2011updated 04 Apr 2017 4:15pm

POSitive reaction to FaceCash

FaceCash, a system that uses face recognition at the point of sale to verify mobile transactions, is gathering increasing support among POS software developers.

By Suruchi Joshi

FaceCash, a system that uses face recognition at the point of sale to verify mobile transactions, is gathering increasing support among POS software developers.

Several POS software vendors have announced plans to support FaceCash in their products.

The application ensures secure retail transactions by using a barcode or NFC signal and is currently available as a mobile app for iphone, Android and Blackberry.

Aside from any benefits FaceCash promises to bring to consumers, the company also promises to save merchants 50% to 80% on transaction fees through its proprietary ThinkLink payment system, which avoids interchange fees.

“It’s great to see so much enthusiasm around FaceCash,” said Aaron Greenspan, CEO of Think, the product’s developers. “We’re making good progress toward our goal of making ‘FaceCash’ and ‘mobile payments’ synonymous.”

 

Related link:

http://www.vrl-financial-news.com/cards–payments/cards-international/issues/ci-2011/ci-455-456/face-first.aspx

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