How IFAN Financial, Inc. (IFAN) Fits into the Mobile Payments Puzzle
San Diego-based IFAN Financial, via wholly owned subsidiaries iPIN Technologies and Mobicash America, is developing technologies to move the mobile payments industry toward more safe, secure, and easy transactions. That said, the company’s solutions address several key payment challenges.
First up is theft and vulnerability; a common concern of consumers doing their shopping online, whether it’s by phone, PC, or tablet. In the online payments process the customer is exposed to identity theft, and the risk of unapproved transactions, when they provide their credit card/debit card and personal data to the merchant.
The IFAN solution lies in its portfolio of key patents, which enable the company to prevent exposure of personal customer data during business transactions. Small enough to fit in your pocket, the company’s iPIN technology attaches to any smartphone and converts the mobile device into a consumer PIN debit, same-as-cash payment solution. Transactions are processed through the private and secure iPIN Technologies Network and the consumer never has to enter their debit card data online.
The next feature tackles high payment processing costs, which come as a result of the higher risk of online payments. Ultimately, these processing costs can de-incentivize certain merchants from accepting credit cards and limit the ability of consumers to use them.
With its same-as-cash iPIN payment solution, IFAN offers an instantaneous method to process the transaction and eliminates extended processing time, dramatically reducing the processing cost.
Next, IFAN counters the high costs of traditional money remittance services such as MoneyGram and Western Union.
Mobicash America’s Quidme debit text payment technology utilizes the text messaging function of a mobile phone, allowing the technology to operate on almost any phone or network, with or without data service. The functionality of the Quidme platform allows 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 Quidme platform works without data coverage on any phone, enabling consumers to instantly transfer funds without having to expose their sensitive personal and financial data to the risk of identity theft. This is a game-changer for remittances (sending money back home), which have an average transfer fee of around 8%. Overall, Quidme allows cost savings of approximately 55% when compared to traditional money remittance services, allowing for cheaper, quicker, and more secure transactions.
IFAN continues to explore opportunities to expand its product portfolio to address security challenges and meet the growing demands for consumer/merchant convenience, speed, and security within the mobile commerce market. The company’s overarching mission is to produce technologies that combine the functionality of social media, e-commerce, and banking with the broader conveniences of the mobile environment.
For more information visit www.ifanfinancial.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
San Diego-based IFAN Financial, via wholly owned subsidiaries iPIN Technologies and Mobicash America, is developing technologies to move the mobile payments industry toward more safe, secure, and easy transactions. That said, the company’s solutions address several key payment challenges.
First up is theft and vulnerability; a common concern of consumers doing their shopping online, whether it’s by phone, PC, or tablet. In the online payments process the customer is exposed to identity theft, and the risk of unapproved transactions, when they provide their credit card/debit card and personal data to the merchant.
The IFAN solution lies in its portfolio of key patents, which enable the company to prevent exposure of personal customer data during business transactions. Small enough to fit in your pocket, the company’s iPIN technology attaches to any smartphone and converts the mobile device into a consumer PIN debit, same-as-cash payment solution. Transactions are processed through the private and secure iPIN Technologies Network and the consumer never has to enter their debit card data online.
The next feature tackles high payment processing costs, which come as a result of the higher risk of online payments. Ultimately, these processing costs can de-incentivize certain merchants from accepting credit cards and limit the ability of consumers to use them.
With its same-as-cash iPIN payment solution, IFAN offers an instantaneous method to process the transaction and eliminates extended processing time, dramatically reducing the processing cost.
Next, IFAN counters the high costs of traditional money remittance services such as MoneyGram and Western Union.
Mobicash America’s Quidme debit text payment technology utilizes the text messaging function of a mobile phone, allowing the technology to operate on almost any phone or network, with or without data service. The functionality of the Quidme platform allows 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 Quidme platform works without data coverage on any phone, enabling consumers to instantly transfer funds without having to expose their sensitive personal and financial data to the risk of identity theft. This is a game-changer for remittances (sending money back home), which have an average transfer fee of around 8%. Overall, Quidme allows cost savings of approximately 55% when compared to traditional money remittance services, allowing for cheaper, quicker, and more secure transactions.
IFAN continues to explore opportunities to expand its product portfolio to address security challenges and meet the growing demands for consumer/merchant convenience, speed, and security within the mobile commerce market. The company’s overarching mission is to produce technologies that combine the functionality of social media, e-commerce, and banking with the broader conveniences of the mobile environment.
For more information visit www.ifanfinancial.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
