FaceWallet consists of three components:
Pay with your face. For free.
FacePay allows you to use your unique image to pay at participating merchants. Scan your face at a payment terminal in lieu of a traditional signature and enjoy the convenience of secure and seamless payments while leaving your wallet at home. Your identity will be securely authenticated via Bluetooth. You’ll never be liable for fraud.
Merchants pay substantially less (.5%) than typical credit card processing charges and can choose to pass a portion of the savings (0%-5% depending on provider) onto FacePay customers as an incentive.
Invest your FaceWallet balance risk free in US government bills and earn 2% – 2.5%. Or allow us to leverage your balance and earn up to double the return of the market.
We do not charge management fees and your trades are processed at the mid-quote price at the end of the trading day. This incurs lesser costs than the competition.
For users who desire maximum returns, our mutual fund allocates money between 10 year treasury bonds and S&P 500 index funds with maximum allowable leverage. This will outperform the market by as much as 100%, but introduces more risk should the market fall and interest rates rise at the same time.
Please download the app to view past FaceFund returns.
Send money between US and Europe at institutional exchange rates.
FaceTransfer allows users to withdraw their FaceFunds in any supported currency (USD, EUR, GBP) at institutional exchange rates. Institutional rates are approximately $10 per $1,000,000 withdrawn, compared to about $7,000 via TransferWiser or up to $25,000 via retail banks that inflate exchange rates by up to 2.5%. We only charge for Wire, ACH or SEPA transfers.
FaceWallet for Merchants also available in the App Store.