“We wanted to make sending money as natural as greeting someone,” said Glad Akhison, Founder and CEO of Boldswitch. “With FacePay, you can pay a vendor, tip a waiter, or send money to a friend instantly without asking for their bank details—just their face.”
FacePay works simply.
It’s powered by AI facial recognition algorithm and a real-time identity matching platform to identify real users and curb fraud.
Using liveness detection, the app ensures only real individuals—not photos, videos, or deepfakes—can receive funds. To register new users, Boldswitch generates a QR code for instant registration and transfer.
FacePay says it uses bank-grade encryption, multi-layer biometric verification, and anti-spoofing safeguards. Importantly, biometric data is never stored or shared without explicit user consent. Boldswitch emphasizes that the platform aligns with international data protection and privacy standards.
Beyond peer-to-peer transfers, FacePay introduces new opportunities for frictionless transactions such as tipping, paying street vendors, instant payouts for gig workers and freelancers, donations to charities and identity verification for events and services.
CypherFace, a U.S.-based fintech company has a facial recognition system that confirms user identity in real time during digital payments. FacePay might learn a thing or two from CypherFace which began operations in 2024.
FacePay is the first in Nigeria and Africa to allow facial recognition for payments and it’s planning international expansion across the continents. It already has already set up US operations and is working on partnerships, patent protections, and regulatory approvals.
