[pbreit]

Since you brought it up, I'm gonna say it: Facecash is a bad idea, poorly executed. None of the 4+ apps that you are offering are compelling. The basic POS thing is never going to work. It's not obviously better but involves set up by both the buyer and seller. And it's kinds of weird ("Sign with your face"??). But then there's a loyalty scheme layered on top. But without any traction on either side, that's not going to work. With money transfers, you should at least copy PayPal to address the chicken and egg problem: let people transfer to an email address or phone number so that the service only requires the sender to be signed up and enabled. Splitting checks is either a small or just bad idea. That's just not a big problem for most people and not one that most would pay to "solve".

Finally, we get it, the government sucks when it comes to making laws like those that make starting up a money transmitter company harder. But other entrepreneurs seem to have addressed it. There are a variety of ways to approach it. For one, use a partner for the transmission part and focus on what you think your added-value is. It would be quite easy to layer a face/barcode scheme on top of PayPal, for example. If you can prove it out, then you're in a better position to handle the money transmission yourself. And might be able to interest investors.

[thinkcomp]

Thanks for your feedback. It's pretty clear that despite your background you don't understand what we're doing.

[pbreit]

OK, I'll bite...what are you doing (that is not discernible from the web site)?

Pro tip: lose the fixation on legal matters and radically simplify your setup processes (10 clicks to approve the TOS!!??)(that's my background talking).