A CDE Definition
A smartphone payments system from Think Computer Corporation, Palo Alto, CA (www.facecash.com) that replaces the traditional plastic debit card. Anyone with a smartphone can use it by opening and depositing funds into a FaceCash account. When making a purchase at a participating store, the merchant scans a barcode displayed on the phone, and a photo of the customer's face is sent to the cash register for visual ID. The FaceCash app can also store the barcodes from certain other loyalty and ID cards, eliminating the need to keep them on a key chain.
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