Mobile payment is all the rage these days. Several speculations suggest that iPhone 5 mightsupport NFC for mobile payments, making it a 'Dream iWallet'. Several companies including Visa and GAP have trialed their mobile payment platforms with the AppleiPhone. The Apple App Store hosts several top notch mobile payment apps. One of these is FaceCash - a unique iPhone app that lets merchants verify a customer's identity by matching his/ her face with a digital image linked to that account.

 

FaceCash works on the unique principle of "Pay with your phone, sign with your face". It leverages the user's face as a security token, unlike plastic cards which typically need receipt signatures. FaceCash allows users to pay for items at the point of sale with a smartphone or paper instead of using a plastic card. Therefore FaceCash can be used as a digital wallet on iPhone or iPod Touch, thereby eliminating the need to carry cash or cards for shopping.

For merchants, FaceCash provides a web-based POS free. Merchants can also hook up their existing POS devices using FaceCash API.

Once installed, FaceCash prompts you to sign in with your existing credentials. If you do not have a FaceCash account, hit the Sign Up button and it launches a Sign Up form in your browser window. If you want to save the hassle of entering your credentials every time you login, toggle the 'Remember Me' switch to ON. Once you've logged in, the FaceCash menu lists options for Coupons, Transfer and History.

A user's face is assigned a unique bar code as shown below.

"Facecash

Users can tap the green bar to check their eligibility for FaceCash rewards. They can pay bills using the Transfer option as shown below.

"Facecash

The History tab provides a comprehensive history of all FaceCash payments made by a user.

"Facecash

Apart from facial recognition, FaceCash also lets you set a PIN number as an additional security token.

"Facecash

FaceCash is currently available only in the United States. The service has over 5,000 users, mostly in the Palo Alto area. Here's a video of FaceCash in action.

 

The original post was published here: FaceCash: Pay with iPhone and Your Face