SAN DIEGO, CA / ACCESSWIRE / August 1, 2016 / For Q3 ending 5/31/2016, IFAN Financial, Inc. (OTC PINK: IFAN), ("IFAN" or "the
Company"), a designer, developer, and distributor of software to enable mobile payments, reported revenues of $268,294 from the
license of its PayX product as well as processing fees.
J. Christopher Mizer, President and CEO of IFAN Financial, stated: "We are excited about our first significant revenue since we
began commercialization of the IFAN Financial Payment Gateway and PayX Platform. This revenue reflects initial validation from the
marketplace for a seamless solution designed for merchants. PayX is the first fully optimized, integrated mobile solution for
merchants with an installed customer base. It gives businesses the ability to create a custom, mobile, online, and in-store
commerce experience based on their customer's defined needs using our mobile wallet, smart beacon technology, and payment
gateway."
Steve Scholl, CFO, added, "The PayX Platform offers an instantaneous method for processing transactions through a mobile device
either online or via a physical device. The benefits to PayX merchants are lower processing costs, higher security, and a
one-on-one interaction with their customer base. Additionally, merchants receive valuable, purchasing data from their customers
which may be used for targeted marketing, loyalty, and promotional programs."
About IFAN Financial, Inc.:
IFAN Financial, Inc., along with its wholly owned subsidiaries and joint ventures, design, develop, and distribute technology to
enable and enhance mobile and traditional payments. The IFAN Platform consists of proximity based beacons, merchant processing, a
mobile wallet, and prepaid card and debit card options. IFAN's consumer facing entity, PayX, includes a portfolio of payment
solutions through the mobile optimized platform capable of facilitating on-demand payments, auto-payments, split-funded payments,
proximity marketing, and spending of platform funds. IFAN and PayX provide businesses with the world's first white label, mobile
optimized platform that connects to any point of sale system and enables the next generation of marketing and payments with the
capability to remit internationally. 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, as
amended, and Section 21E of the Securities Exchange Act of 1934. Although forward-looking statements in this release reflect the
good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties
that may cause actual results to be materially different from those discussed in these forward-looking statements, including but
not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market
acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions.
Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and
Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our
business, financial condition, results of operation and cash flows. If one of more of these risks or uncertainties materialize, or
if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are
urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume
no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date
of this release.
Contact:
IFAN Financial, Inc. Steve Scholl Chief Financial Officer 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.
