SOURCE: IFAN Financial, Inc.

January 13, 2015 08:30 ET

IFAN Financial Enters Agreement to Provide Development Assistance to Card Collaborative International, LLC

SAN DIEGO, CA--(Marketwired - Jan 13, 2015) - IFAN Financial, Inc. (OTC: IFAN), a company engaged in the design, development and distribution of software to enable enhanced mobile payments, has entered into a strategic relationship with Florida-based The Card Collaborative International, LLC (TCCI) to manage the Quidme debit card program.

Per the agreement, TCCI will provide the following services to IFAN Financial's Mobicash America subsidiary:

  • Prepare banking compliance including the Customer Identification Program (CIP) and Office of Foreign Control Program (OFAC);
  • Initiate card program risk assessment;
  • Finalize third-party processor agreement;
  • Open bank settlement accounts;
  • Secure POS/ATM network approval;
  • Supervise card manufacturing;
  • Manage call center/customer support testing; and
  • Initiate white card testing.

TCCI is the developer of a shared services operational platform. The company works with prepaid card issuing banks to design and develop a variety of programs and services. Leveraging this model, TCCI assumes the role as a program manager engaging directly with issuing banks, processors, card fulfillment providers, and other service providers. 

"TCCI offers IFAN Financial an innovative suite of solutions which will help us build the back-office capabilities and banking functionality to launch the Quidme platform. Developing this infrastructure will also support the efforts of our iPin Technologies subsidiary in the mobile payments space," declares IFAN Financial's CFO, Steve Scholl.

About IFAN Financial, Inc.
IFAN Financial, Inc. and its wholly owned subsidiaries design, develop, and distribute software to enable mobile payments. These include the ability to use a debit card and corresponding PIN number while purchasing online on a mobile phone, tablet, or computer and conducting peer-to-peer cash transfers. For more information, visit www.ifanfinancial.com.

Forward-Looking Statements
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of IFAN Financial, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond IFAN Financial, Inc.'s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in IFAN Financial, Inc.'s filings with the Securities and Exchange Commission.

Contact Information

  • Contact:

    For More Information

    Steve Scholl
    Chief Financial Officer
    IFAN Financial, Inc.
    5694 Mission Center Road
    Suite 602-660
    San Diego, CA 92108-4312
    Direct: 858-277-9868
    FAX: 619-923-2907
    sscholl@ifanfinancial.com
    www.ifanfinancial.com