IFAN Financial, Inc. (IFAN) Reports Achievement of Certain Technology Development Milestones by iPIN Technologies

Today before the opening bell, IFAN Financial announced that two significant milestones have been achieved by iPIN Technologies, a wholly owned subsidiary, under the company’s license agreement. In addition to posting the status of a financial transaction to the merchant call back uniform resource locator (URL), the subsidiary has also developed the front-end database to enable a merchant processing transaction.

The next two milestones involve the back-end integration of the application with a merchant processing gateway and completion of beta testing for the Apple and Android operating systems. Once accomplished, the iPIN Technologies solution will involve a mobile app, card reader, and merchant network that will enable consumers to use their smartphone to make purchases in a convenient, secure environment.

“With the completion of major milestones three and four, the iPIN Technologies platform is approximately two-thirds complete,” commented IFAN Financial Chief Financial Officer Steve Scholl. “Development of the iPIN Technologies products are proceeding and we expect to launch the products on a commercial basis during the second quarter of 2015.”

For more information, visit http://ifanfinancial.com/investors/company-information

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