SOURCE: IFAN Financial, Inc.

IFAN Financial, Inc.

November 24, 2015 08:00 ET

IFAN Financial, Inc. Signs First Merchant Processing Contract With Leading Internet Medical Products Firm

Completes Transition to a Revenue Generating Company

SAN DIEGO, CA--(Marketwired - Nov 24, 2015) - IFAN Financial, Inc. (OTC PINK: IFAN), ("IFAN" or "the Company"), a designer, developer, and distributor of software to enable mobile payments, announced the signing of its first merchant processing contract ("the Contract") with a leading internet medical products firm, which forecasts $1,000,000 of transaction volume processing annually on its website.

The Contract, which is exclusive to IFAN's payment gateway, will commence within the next 7 days for a period of 3 years. Revenues generated by IFAN are based upon the volume of transactions made utilizing the IFAN payment gateway. The benefits of utilizing IFAN's payment gateway are multifaceted, as it will enable the merchant to prevent exposure of personal customer data during mobile business transactions and process those transactions at a significantly lower cost than the competition. In addition, IFAN's instantaneous method of processing transactions eliminates extended payment clearance time, which dramatically reduces the costs on merchants. The platform allows significant cost savings when compared to traditional money remittance services.

J. Christopher Mizer, President and CEO of IFAN Financial, commented, "We are excited to announce the signing of our first commercial client, a leading online medical products merchant. This agreement completes a significant milestone for IFAN, from a pre-revenue, technology-driven company, to an operational business driving revenues and top-line growth, while carving out a position of leadership in the financial technology industry."

Steve Scholl, Chief Financial Officer of IFAN Financial, added, "Not only is this contract important in terms of revenue generation, but it will also allow us to demonstrate the value of IFAN's payment gateway beyond the testing stage in a real-time, transactional environment. IFAN's payment gateway is a low cost, highly efficient merchant processing platform, and is in high demand from businesses. We have created a pipeline of strategic relationships, potential customers, and marketing programs, which we're confident will continue to grow and convert into new business opportunities."

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 peer-to-peer cash transfers. For more information, visit www.ifanfinancial.com.

Forward-Looking Statements 
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Litigation Reform Act of 1995, which are subject to risks and uncertainties and may change at any time. These statements are only predictions and involve known and unknown risks, uncertainties and other factors including, without limitation, (i) uncertainties regarding the Company's ability to obtain adequate financing on a timely basis including financing for specific projects, (ii) the financial and operating performance of the Company's projects after commissioning, (iii) uncertainties regarding the market for and value of carbon credits and other environmental attributes, (iv) political and governmental risks associated with the countries in which the Company operates, (v) unanticipated delays associated with project implementation including designing, constructing and equipping projects, as well as delays in obtaining required government permits and approvals, (vi) the development stage of the Company's business, (vii) its lack of operating history and (viii) the financial, technological, and regulatory uncertainties relating to developing, constructing and completing to operational status, a biogas generation facility such as the Project. As such, there is no assurance that the initiatives described in the press release will be successfully implemented or meet expectations.

Contact Information

  • Contact:
    Steve Scholl
    Chief Financial Officer
    IFAN Financial, Inc.
    3517 Camino del Rio South
    Suite 407
    San Diego, CA 92108
    Direct: 858-277-9868
    FAX: 619-923-2907
    Email Contact
    www.ifanfinancial.com