IFAN Financial is among innovative players
with a knack for recognizing 21st Century payment trends and developing
progressive technologies to stay ahead of the curve. Working through its wholly
owned subsidiaries, iPIN Technologies and Mobicash America, IFAN is building a
portfolio of convenience- and security-centric technologies that enhance and
enable payments via mobile phone, tablet, or computer and peer-to-peer cash
transfers.
Participating in what it calls the
information and communication (ICT) market, iPIN Technologies is currently beta
testing its new method of online selling through debit card payments and
processing. iPIN’s technology is a debit card-sized device that attaches to any
smartphone, tablet or computer through the headphone jack and converts the
device into a consumer PIN debit, same-as-cash payment solution.
Using the iPIN Debit app, transactions
are processed through the private and secure iPIN Technologies Network. The
merchants never have access to the users’ banking information, eliminating the
threat of information theft. Not only does the technology safeguard consumer
data, it also provides a heightened level of convenience for consumers shopping
on-the-go. iPIN is expected to roll-out sometime this quarter.
Mobicash America’s platform product,
Quidme, utilizes the text messaging function of a smartphone, allowing the
technology to operate on almost any phone or network with or without data
service. Quidme platform enables users to pay bills, purchase goods and
services, and to send money to friends and relatives located locally or
internationally via simple text message.
The market opportunity in this sense is
remarkable. America is increasingly diverse in its population. As a result,
remittance flows to developing countries have more than quadrupled since the
year 2000. The World Bank estimates that remittances sent in 2014 totaled $582
billion, providing the largest source of foreign exchange for many countries,
especially those afflicted by poverty, disaster or conflict.
As IFAN continues to advance its iPIN
and Quidme technologies, the company is pursuing additional opportunities to
expand its product portfolio and meet the evolving demands for
consumer/merchant convenience, speed and security within mobile and online
commerce.
For more information visit http://ifanfinancial.com
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