Today before the opening bell, IFAN Financial reported its acquisition of mobile payment solutions provider Mobicash America as a wholly owned subsidiary. The terms of the share exchange transaction with IFAN Financial shareholders were disclosed in IFAN Financial’s 8-k/a filing on Wednesday, October 15, 2014.
Mobicash America’s President and CEO, J. Christopher Mizer will join IFAN Financial as a director and CTO. He will also retain his position as President of Mobicash America. Menya’s prior experience includes being the the founder and former CEO of TeleBM Communications, a cloud-based telephony services business serving niche markets in the United States, Central America, South America, and Africa.
Mobicash America is an early-stage development company engaged in development of mobile payment solutions. Its flagship product, Quidme makes use of a mobile phone’s texting capability, and as a result, Quidme can operate on almost any phone or network, with or without data service. The Quidme platform allows users, via text message, to pay bills, purchase goods and services, and send money to parties located nationally or internationally.
“The Quidme platform will facilitate the development of a mobile commerce or m-commerce ecosystem,” stated IFAN Financial President and CEO J. Christopher Mizer. “Products in development will include a social networking app for smart phones that will combine the functionality of social media, e-commerce and banking in a dedicated, mobile environment. By utilizing the cross-functionality of iPIN Technologies with the Quidme m-commerce platform, we believe IFAN should be able to drive customer adoption of our brands and products within this exciting industry.”
IFAN Financial 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
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