Anyone who has been using PayPal to make online payments will be interested to learn that there is a new kid on the block. IFAN Financial (OTCBB: IFAN) has developed a revolutionary platform that has the potential to alter the payments industry landscape significantly.

IFAN enables anyone, anywhere to use a debit card to make online purchases. Debit cards are essentially the same as using cash; third parties have no access to sensitive account information since the only number used during the transaction is a pin. No card number, no expiration date, and no CVV code needs to be entered.

Most people currently use a credit card to make online purchases from a computer, smartphone, or tablet. The upside is that credit cards are easy and fast. The downside is that buyers and merchants are both at serious risk for data theft and significant expenses in the form of missing funds and the time it takes to recover them. Anyone who has ever been through that nightmare will never again allow it to happen.

Many well-informed buyers know this and figure PayPal is the logical alternative. After all, PayPal avoids any direct credit card use and therefore must be safer. As it turns out, that is not quite true.

Here are some of the reasons that IFAN will become the preferred payment platform in the near future:

• Less expensive – PayPal typically charges merchants 3% per transaction and IFAN charges .7%. That is an overall expense reduction to the merchant of over 75%.

• More versatile – While most online merchants are set up to use PayPal, many of the smaller ones are not. Any online merchant that does not accept a debit card is not likely to be in business very long.

• No chargebacks – With IFAN, the transaction will either process or it will not, depending on the user’s bank account balance. PayPal, on the other hand, affords less scrupulous buyers an opportunity to obtain the product and have their payment reversed.

• No delay in receiving funds – PayPal withholds payment to merchants for up to two days. IFAN payment processing is immediate.

Expect to soon see the IFAN Financial (OTCBB: IFAN) logo prominently displayed by any merchant who wants to simultaneously improve their bottom line and increase customer loyalty.

I am not a broker and this is not meant to be investment advice, you should consult your own broker.