A new payment service operates on a subscription model and facilitates bank-to-bank transactions.
Aug. 26, 2020—A new payment service aims to cut out credit card service fees by supporting direct, bank-to-bank payments.
Facepay is a subscription-based service aimed at automotive aftermarket businesses. The software executes direct debit payments, so long as the customer has opted into the program and authorizes the business as a "merchant," according to a press release.
The company says that in addition to sidestepping transaction fees, the system is contactless.
“We focus on a contactless service because it’s safe for humanity right now,” says Todd Westerlund, one of the leaders of Facepay. “We also put emphasis on the zero percent fees so that money can now go back into the shop owner’s hands, and they make the choice of what to do with that money.”
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