Innovative Payment Solutions Inc Stock Price, News & Analysis

Innovative Payment Solutions (OTCQB:IPSI) reported significant growth in the fourth quarter of 2022, notably in IPSIPay downloads and active users. The company aims to enhance revenue and shareholder value through new initiatives in 2023.

In December 2022, IPSI achieved 34,000 downloads and 2,100 active users, an increase from 10,000 downloads and 1,200 users in October. Key partnerships, including collaborations with Metropolitan Bank and Walmart Health, expanded IPSIPay's functionalities, including offering debit cards and telemedicine access.

Looking ahead, IPSI plans to launch IPSIPay 2.0 and apply for a Mexican money transmitting organization license, potentially enhancing market reach in Mexico.

Innovative Payment Solutions, Inc. (OTCQB:IPSI) achieved significant milestones in its marketing campaign for the IPSIPay® App, launching in August. The company recorded 10,000 downloads, with 1,200 active users making transactions. Targeting unbanked and underserved communities, these efforts are supported by a collaboration with Mario Lopez. Despite early revenue being minimal, management is optimistic about future growth and user engagement as the campaign develops, focusing on generating fees from money transfers and debit card usage.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) will present a corporate overview at the LD Micro Main Event XV from October 25-27, 2022, at Luxe Sunset Boulevard Hotel, Los Angeles. CEO William Corbett and CFO Richard Rosenblum will discuss the ongoing development and commercialization of the IPSIPay® app and other initiatives. Interested parties can register for the presentation and one-on-one meetings via the provided portal. IPSI focuses on digital payment solutions, particularly for the underserved, facilitating cross-border transactions through its technology platform.

Innovative Payment Solutions, Inc. (OTCQB:IPSI) has announced the integration of MeMD, a telemedicine service acquired by Walmart, into its IPSIPay® app. This addition aims to provide healthcare access to unbanked and underserved communities, enhancing the app's utility. With around five million users, MeMD offers services including urgent and behavioral health care. IPSI's CEO, William Corbett, emphasized the significance of this service for improving users' quality of life.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) announced a new digital marketing campaign with National Positions. The campaign targets the unbanked and underserved, featuring celebrity spokesperson Mario Lopez to reach Hispanic Americans. With approval for money transfers across all 50 U.S. states and over 215,000 pickup locations globally, IPSI aims to increase awareness and user adoption of its IPSIPay app. CEO William Corbett expressed optimism about the partnership and its potential to attract new customers.

Innovative Payment Solutions, Inc. (OTCQB:IPSI) has received approval to send remittances from all 50 U.S. states, marking a major milestone for the IPSIPay mobile payment app. This achievement allows users to transfer money globally to over 215,000 payment locations, enhancing its commercial launch strategy aimed at unbanked and underserved communities. California's approval is crucial, representing the largest remittance source to Mexico, valued at $16.3 billion annually. IPSI plans to boost app downloads and user engagement to drive revenue growth.