I'm not familiar with the other two companies, but these two sentences from the article are really telling:
"And instead of paying anywhere from 2% to 5% to accept a credit card, the merchant would pay FaceCash just 1.5%. (The funds were withdrawn from the consumer's prepaid FaceCash account.)"
The first tells you who this business threatens. The second why such a company is typically licensed and has to put up a bond, for they are holding customer cash which as we are all too aware can ... up and fly away in all sorts of circumstances.
