You can love it or hate it, but technology is a non-stop growing monster. Some of us are still trying to get used to how to download an app for this or that, or how to sync my email contacts to my phone, how to upload my video directly from my phone to facebook, how to get notifications instantly... God knows how many things I still don't know about my android that are about to be obsolete.
Recently, many merchants like Starbucks and selected Subways have launched a new way to pay for their services... THROUGH YOUR PHONE!!! yet, another app to download. They claim that it's easier than paying with cash or credit card, honestly it just lowers their costs.
Some credit card companies charge an average of 3.2% per transaction and an average of $30 for the monthly fee. Some mobile paying methods are FREE! Also, merchants tend to lose a lot of money when they receive charge backs from cardholders who claim never to have shopped or eaten at that place, not to mention the consequences of generating charge back red flags with Visa or Mastercard. And what about the #1 concern? The customer's privacy and bank security.
For all those reasons, there is a new way to pay. FaceCash it only charges your account if the merchant sees your picture in their screen when you give them the bar code from your phone. It is the solution that we were waiting for for the big flaw in Starbucks' payment method. The only problem is FaceCash is limited only to California as of now and there is a limited amount of stablishments that are using this method. It works the same as a debit card or pay pal, all you need to do is open an account with a minimum amount of $20 and then recharge the account as you wish.
I think that if Florida or at least Miami started asking more merchants for this methods of payment, we could expand the possibilities of having more customers in our shops without the fear of forgetting their wallets, or credit card fraud.
https://www.facecash.com/individuals.html
http://platpay.com/chargeback-red-flags/
