IFAN Financial (IFAN) Reaches Milestones, Receives Approval From Apple and Google
December 12, 2014
IFAN Financial Issues Business Update Regarding Its Next-Generation, Mobile Payments Subsidiaries iPIN Technology and Quidme
SAN DIEGO, CA–(Marketwired – Dec 12, 2014) – IFAN Financial, Inc. (OTC: IFAN) is pleased to announce that two significant milestones have been achieved by its iPIN Technologies subsidiary under the Company’s license agreement. These milestones include the successful development of the user interface including integration with the Android application package file (APK) and the ability to read and transfer data from the card swipe device to the mobile phone application. The next two milestones under the license agreement are ongoing and will involve posting the status of the transaction to the merchant call back uniform resource locator (URL) and developing the front-end database to enable a merchant processing transaction. When completed, the iPin Technologies solution will involve a mobile app, card reader, and merchant network that will enable consumers to use their smart phone to make purchases.
Additionally, Apple and Google have each approved IFAN Financial’s Quidme platform for their mobile app stores. This will allow the Quidme application to be distributed for all Apple iPhones and tablets in the iTunes Store as well as for most Android devices through Google Play. Quidme is a next-generation, online payment technology that allows consumers to make peer-to-peer cash transfers or online purchases using a mobile phone, tablet, or computer.
“Mobile commerce is a fast-growing worldwide trend and we’re excited to announce our progress in this dynamic industry,” states IFAN Financial President and CEO J. Christopher Mizer. “Development of the iPIN Technologies and Quidme mobile payments products are proceeding and we expect to launch the products on a commercial basis during the first quarter of 2015.”
About IFAN Financial, Inc.
IFAN Financial, Inc. and its wholly owned subsidiaries design, develop, and distribute solutions to enable mobile payments. These include the ability to use a debit card and corresponding PIN number for making purchases online on a mobile phone, tablet, or computer and for making peer-to-peer cash transfers. For more information, visit www.ifanfinancial.com.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of IFAN Financial, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond IFAN Financial, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in IFAN Financial, Inc.’s filings with the Securities and Exchange Commission.
IFAN Financial, Inc.
Chief Financial Officer
San Diego, CA
Investor Relations Contact
Phone: (480) 374-1336