“Three years ago Aaron Greenspan had a hot mobile payments startup on his hands that was poised to take a bite out of the entrenched card networks. Launched in April 2010, FaceCash signed up 25 Bay Area merchants and 500 consumers to use its novel technology, which combined mobile bar code scanning and photo identification. A Subway franchise in Palo Alto tested the service. Some suggested FaceCash could become the next blockbuster payments innovator after Jack Dorsey’s Square. Then regulators put Greenspan out of business.”

http://www.americanbanker.com/issues/178_151/how-california-law-put-a-hot-payments-innovator-on-ice-1061147-1.html?zkPrintable=1&nopagination=1

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy