As the payments industry has evolved over many years, the market for in-person payments has grown increasingly fragmented and confusing. 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.
FaceCash uses a barcode or NFC signal to facilitate secure retail transactions, and is currently available as a mobile app for iPhone, Android and BlackBerry.
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. Some of the software modules are already in testing.
"It's great to see so much enthusiasm around FaceCash," Aaron Greenspan, Think's CEO stated. "We're making good progress toward our goal of making 'FaceCash' and 'mobile payments' synonymous."
With the FaceCash API, POS software vendors can create a new tender type button for FaceCash mobile payments. Since FaceCash relies on the ThinkLink payment system instead of the traditional card interchange, merchants can save 50% to 80% on per-transaction fees, while providing benefits to consumers that save time and money, such as bill splitting and electronic receipts.
"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. POS Lavu turns the popular iPad tablet into a cash register.
Michel Cote, President of Posera Software, which makes POS software for food service merchants, stated, "Having seen what mobile payments have done for brands such as Starbucks, we're excited to bring them to Maitre'D with FaceCash."
Rajeev Viswanathan, Vice President of Corporate Development at Own, said, "Both FaceCash and Own are at the forefront of this technology revolution to merge brick and mortar with e-commerce, web, and cloud, and together we will bring exciting new opportunities to the industry."