MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Facepay Inc. today announced the launch of Facepay Crypto, an addition to its pioneering relationship payment platform known for freeing business owners from credit card transaction fees and leveraging security blockchain technologies. Facepay’s relationship payments disrupted the industry with its bold fixed price subscription model at the end of 2020 and is set to shake up the payments industry again with the introduction of Facepay Crypto.
Built on a private Ethereum network, Facepay Crypto will allow stores to directly accept Bitcoin, Ethereum and other cryptocurrency payments from customers, replacing the complicated fee structures associated with legacy payment processing. And because payments made on the blockchain are irrevocable, they are not subject to the chargeback, fraud, and dispute processes that credit cards are.
“We figured out how to bring the benefits of Bitcoin and other cryptocurrencies into the platform while maintaining that auto repair shops are paid directly,” says Facepay founder Dr. Mark Hale. “Consumer cryptocurrency will only increase over time, and repair shops should invest in the right technology to take advantage of it. Otherwise, Bitcoin will just be another means of payment that costs stores money. Every direct payment made with Facepay results in a 15-20% more profitable transaction.
Cryptocurrency is entering the mainstream just as repair shops are already heavily burdened with excessive credit card fees and planned fee increases. Facepay will allow stores to integrate alternative payments into their workflow and immediately realize additional profit gains as customers pay businesses directly, bypassing the traditional payment processor entirely.
“I see Facepay as a way to prevent crypto payments from being integrated into the antiquated transaction model offered by the credit card processor oligopoly,” Hale adds. “And when Facepay becomes an integral part of the store workflow, stores start realizing huge savings. Additionally, 63% of consumers prefer this type of payment relationship with their service providers anyway.”
Greg Buckley, owner of Buckley’s Auto Care, industry expert and Facepay customer says, “We all need to stay at the forefront of our customers’ experience. Contactless and digital payment methods are ubiquitous today. Adoption rates for these transactions are steadily climbing. Facepay’s platform allows me to save money, while remaining convenient and secure. Facepay is the right payment technology today and for the future.
Currently, there is no other platform on the market designed for auto shops to offer crypto-ready direct banking with the security of blockchain technology.
As a Diamond Partner, Facepay is the preferred payment for Automotive Training Institute members. Members can learn more about Facepay Crypto at the showcase held at ATI SuperConference 2022 in Carlsbad, CA, March 16-19 and on their member portal. Automotive shops attending the 2022 VISION HiTech Training and Expo in Kansas City, MO, March 3-5, can visit us at Facepay Booth #435.
Facepay is permanently registered in the Ethereum blockchain with its internal token address 0x72665aa1dbfdd90fcaa2afed64830450c1585817.
The Facepay Relational Payments payment platform helps business owners increase profits by eliminating credit card processing fees.
Facepay’s technology enables auto shop owners to adopt a modern payment platform with a low-cost fixed monthly subscription as an alternative to paying 2-3% of revenue to credit card processors. Facepay works with all management systems with an easy to use dashboard easily integrated into existing workflows. On average, US auto repair shops using the Facepay model add $25,000 to their bottom line per year.
Facepay allows repair shops to offer their customers multiple payment options, including contactless payments, monthly installments, and service subscription plans.
For more information or to schedule a demo, visit www.facepay.io or call (800) 403-0221.