Wednesday, December 17, 2014

IFAN Financial Inc. (IFAN) Prepares for Upcoming Technology Availability amid Strong Mobile Consumer Environment

Whether it’s shopping for digital goods, merchandise or a service, 87% of mobile and/or tablet owners buy their goods through their handheld device, according to research firm Nielsen. Inherent to the increasing volume in online transactions via mobile/tablet is the heightened need for security of consumer data. IFAN Financial’s iPIN Technologies subsidiary is emerging as a provider of a secure solution that successfully integrates the functionality of e-commerce and banking with the broader conveniences of the mobile environment.

iPIN Technologies seeks to offer a range of processing services for the evolution of the ecommerce industry, starting with a new method of online selling through debit card payments and processing. The company is currently developing iPIN debit technology in the form of a small device that attaches to any smartphone through the headphone jack. This attachment converts the device into a consumer PIN debit, same-as-cash payment solution and eliminates the need for consumers to share their debit card data with the site on which they’re shopping. Using the iPIN Debit app, transactions are processed through the private and secure iPIN Technologies Network.

iPIN Technologies recently announced key milestones in the advancement of its product toward commercialization, which is expected in the first quarter of 2015. These milestones include the development of the user interface, including integration with the Android application package file, as well as the ability to read and transfer data from the iPIN device to the mobile phone application.

The next two milestones under the IFAN/iPIN Technologies license agreement are ongoing and 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. Upon final completion, this iPIN Technologies solution will consist of a mobile app, card reader and merchant network that will enable consumers to securely use their smart phone to make purchases.

For more information visit www.ifanfinancial.com

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