IFAN Financial Inc (OTCBB:IFAN) welcomes Facebook Inc (NASDAQ:FB) entry into the mobile payments industry. It foresees ancillary opportunities prevailing in the market. The company stated that the latest friend to friend transaction feature reveals progression of mounting broader M-Commerce acceptance. It paves the way for potential integrations. IFAN is a company that is in initial development stages and is focused on designing the innovative ways of mobile payment transactions.
IFAN Financial stated that the new feature will evolve as a catalyst for increasing consumer acceptance of tablet, mobile and computer based payments and transactions. J. Christopher Mizer, the President said that the company is really thrilled to see a social networking leader firm entering into the mobile payment space. He added that the company has long-acknowledged the rising synergies between mobile technologies and social commerce. They believe that the social media website participation in the field will accelerate consumer adoption of friend to friend money transfers through Smartphone. It will create value to existing platforms.
IFAN’s technology is being designed as a mobile payment platform that works on the text messaging function of any Smartphone or mobile phone app. The product portfolio also has its iPIN Techology, as of now in beta testing as an online payment technology. It is a unique technology that offers users with the feature to use a debit card and associated PIN number to make safe and secure cash transfers or make online purchases via Smartphone, tablet or computer.
The purpose is as the users becomes more acquainted, experienced and comfortable with mobile payment capabilities, the prospective applications and combinations of new technologies will be introduced in the market. Mizer added that Facebook is a form of modern communication and the company expects broader implications of the new launched services that it will leave on the mobile payments industry.