IFAN Financial Applauds Facebook’s Move Into the Mobile Payments Industry, Foresees Ancillary Opportunities
MARCH 23, 2015
Says New Peer-to-Peer Transaction Feature Confirms Progression of Broader M-Commerce Acceptance, Opens the Door for Potential Integrations
SAN DIEGO, CA–(Marketwired – Mar 23, 2015) – IFAN Financial, Inc. (OTC: IFAN), a development-stage company focused on delivering the next generation of mobile payment transactions, applauds Facebook’s recently announced plan to enable users to send or receive money over the social network’s Messenger app.
IFAN Financial believes the new Facebook feature, which is expected to officially launch in the United States in upcoming months, will emerge as a catalyst for broader consumer acceptance of mobile, tablet and computer transactions and payments.
“We’re excited to see a social networking leader like Facebook enter the dynamic mobile payments space,” states IFAN Financial President and CEO J. Christopher Mizer. “IFAN has long-recognized the growing synergies between social commerce and mobile technologies. We believe that Facebook’s participation in the mobile payments arena will likely accelerate consumer adoption of peer-to-peer money transfers via smartphone and ultimately add value to our platforms.”
IFAN’s technology is being developed as a mobile payment solution that utilizes the text messaging function of any mobile phone or a smartphone app. The Company’s portfolio also includes its iPIN Technologies device, currently in beta testing as a next-gen online payment technology that provides consumers with the ability to use a debit card and corresponding PIN number to make secure peer-to-peer cash transfers or online purchases using a mobile phone, tablet or computer.
As consumers become more familiar, experienced and confident in the security and convenience of mobile payment capabilities, IFAN Financial intends to pursue prospective applications and integration of its technologies afforded by the roll-out of Facebook’s new feature.
“Facebook is a staple of modern communication and we look forward to the broader implications its peer-to-peer transfer services will have on the mobile payments industry,” says Mizer. “Our strategy is to take advantage of the anticipated momentum and explore potential opportunities to integrate the Messenger app functionality with our IFAN platforms, once fully operational.”
About IFAN Financial, Inc.
IFAN Financial, Inc. and its wholly owned subsidiaries design, develop, and distribute software to enable mobile payments. These include the ability to use a debit card and corresponding PIN number while purchasing online on a mobile phone, tablet, or computer and peer-to-peer cash transfers. 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.
Chief Financial Officer
IFAN Financial, Inc.
5694 Mission Center Road
San Diego, CA 92108-4312