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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