Service Aims to Cut Out Credit Card Fees

Aug. 26, 2020

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.”