Innovative Payment Solutions Inc Stock Price, News & Analysis

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has appointed Clifford W. Henry and Madisson G. Corbett to its Board of Directors, expanding the team to five members, three of whom are independent. Mr. Henry brings extensive investment management experience, while Ms. Corbett has a proven track record in fintech sales development, notably increasing revenue at Brex.com from $20M to $100M in 18 months. These appointments aim to enhance the company's strategy and support the growth of its digital payment platform, IPSIPay™.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has signed a Service Agreement with Red Efectiva, a leading payment processing company in Mexico. This partnership aims to enhance Innovative's foothold in Mexico while providing financial services to underserved customers in both the US and Mexico. The digital payments market in Mexico is rapidly expanding, with expected growth rates of 20.1% annually leading to nearly $28.5 billion by 2023. The CTO, Andrey Novikov, emphasized the opportunity to broaden the IPSIPay ecosystem, making financial services more inclusive and affordable.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has announced its participation in the virtual H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference on April 27, 2021. CEO William Corbett will present an overview of the company’s digital payment platform, IPSIPay™, aimed at providing innovative payment solutions. Investors can access the presentation at 7:00 A.M. ET through provided links. This conference features over 30 corporate presentations and is a significant opportunity for the company to showcase its fintech developments.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) announced its Board of Directors has voted to uplist the company's shares to NASDAQ. CEO William Corbett highlighted milestones achieved in the past year, including eliminating toxic debt and raising significant capital. The upcoming launch of their universal digital marketplace platform aims to enhance shareholder value and increase visibility in the digital payment sector. The company aims to offer multiple payment methods via self-service kiosks, mobile apps, and POS terminals.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has successfully closed a private placement offering, raising approximately $4.55 million through the sale of 30,333,334 shares and warrants for $0.15 each. The warrants permit the purchase of an additional 15,166,667 shares at the same price and are valid for five years. The funds will primarily support the development of the IPSIPay digital payment platform and for general corporate needs. The securities sold were not registered under the Securities Act, limiting their resale in the U.S.

Innovative Payment Solutions (OTCQB: IPSI) announced a securities purchase agreement to sell 30,333,334 shares of common stock and warrants for a total of approximately $4.55 million. The offering price is set at $0.15 per share, with warrants exercisable at the same price. Proceeds will be used for technology development, marketing, working capital, and general corporate purposes. The offering is expected to close around March 16, 2021. This private placement will not be publicly offered and must comply with federal and state securities regulations.

Innovative Payment Solutions, Inc (OTCQB: IPSI) has successfully raised $950,000, bringing its total cash balance to approximately $4 million. This funding is expected to enhance the company's flexibility in executing its business model and strategic planning for 2021. The capital raise is linked to financial terms that allow the company to call warrants if its stock price maintains a closing value of $0.15 for ten consecutive days. CEO William Corbett expressed optimism about leveraging this capital for future growth.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has inked a Service Agreement with Interface Investment Capital, LLC to provide financial services to the agricultural sector in California. The agreement enables the integration of IPSIPay with IIC's payroll system, offering payroll debit cards and cross-border payments. California's agriculture employs over 422,000 workers and generates more than $45 billion in sales. The deal aims to enhance financial services for unbanked communities, marking a significant milestone for Innovative. CEO William Corbett expressed optimism about expanding IPSIPay's reach.

Innovative Payment Solutions, Inc. (OTCQB: IPSI) has made significant strides in early 2021, raising $2 million in capital at $0.23 per share and reporting a cash balance of approximately $3 million. The repayment of toxic debt aims to enhance shareholder value. A commitment of $5 million from institutional investor Bellridge Capital, LP, will support the liquidity and settlement of IPSIPay Stable Coin. The company has also hired in-house legal counsel to navigate regulatory changes, furthering its mission to serve unbanked and underbanked customers.