Game-Changing PayX Platform Connects With All Point of Sale Systems; Deposits on the PayX Platform Are FDIC-Insured
SAN DIEGO, CA / ACCESSWIRE / February 1, 2016 / IFAN Financial, Inc. (OTC PINK: IFAN), ("IFAN" or "the Company"), a designer, developer, and distributor of software to enable mobile payments, announced the launch of the first white-label mobile wallet platform, PayX, at the 2016 Consumer Electronics Show (CES 2016).
The PayX platform is a versatile interface that enables merchants to engage its customers with proximity marketing, while being the hub for all point of sale systems. What makes PayX unique is the ability to use the platform as a means of combining the best aspects of social media and online shopping, enabling customers to centralize these tasks, eliminating the need for multiple phone/tablet applications to perform daily functions.
For the user, PayX allows for instant transactions, including peer-to-peer money transfers. Importantly, this enables card users to make transactions and cash transfers via mobile phone, tablet, or computer without providing the merchant their confidential card information. Deposits on the PayX platform are held at Utah-based TAB Bank, member FDIC, and insured according to the FDIC limits.
J. Christopher Mizer, President and CEO of IFAN Financial, commented, "We are excited to have launched PayX at CES 2016. PayX was very well received, with strong interest from both consumers and merchants alike. We have built a powerful and revolutionary platform to foster safe, secure, and simple social commerce for the benefit of both consumers and merchants in the rapidly expanding social commerce industry. The world is continuing to move towards a cashless society. IFAN has built a platform that not only processes transactions, but also initiates conversations between merchants and users, providing a deeper, more lasting business opportunity."
Steve Scholl, Chief Financial Officer of IFAN Financial, added, "The PayX platform connects users and merchants of all sizes and industries, providing us a growing target market. At the same time, we've built PayX with the versatility to enable peer to peer money transfers, process merchant payments, enable popular loyalty point programs, and engage users with proximity marketing. The PayX platform connects to any point of sale system, and is internationally remittable in over 80 countries. With the wide scope of programs in place, we expect a steady stream of revenue from the PayX platform in 2016, and for it to be a key growth driver for the Company going forward."
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.
About TAB Bank
Founded in 1998, TAB Bank was originally established to provide financial products and services to the trucking industry. Today, TAB Bank offers custom working capital solutions to commercial businesses from many industries. These solutions are provided in all stages of the business life cycle and during any economic conditions. TAB Bank does this through Asset-Based Loans, Accounts Receivable Financing, Lines of Credit, Equipment Finance, Deposit Accounts, and Treasury Management Services.
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:
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
sscholl@ifanfinancial.com
www.ifanfinancial.com
SOURCE: IFAN Financial, Inc.
