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Innovative Payment Solutions Inc (IPSI) delivers cutting-edge payment processing systems for modern commerce. This news hub provides investors and industry professionals with official updates about the company's financial performance, technological advancements, and market positioning within the competitive fintech sector.
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Innovative Payment Solutions (OTCQB: IPSI) has raised $2 million at 23 cents per share, which will be allocated for general purposes, marketing, and technology investment. This follows a prior funding round of $600,000 at 4.5 cents per share, which the company aims to repurchase with the new funds. CEO William Corbett emphasizes the goal of establishing the company as a leading digital payment provider, focusing on small businesses and underserved consumers. The press release also includes a forward-looking statement regarding future growth and market potential.
Innovative Payment Solutions, Inc. (OTCQB: IPSI) has signed a term sheet with an institutional investor for funding between $1 million and $5 million, aimed at supporting the issuance of IPSI Stable Coin. This investment validates the company's business model and is expected to enhance their digital payment solution, IPSIPay, which targets unbanked and underbanked communities. CEO William Corbett highlighted the significance of the Office of the Comptroller of the Currency’s recent approval for stable coin banking as a major opportunity for growth in the digital payment market.
Innovative Payment Solutions, Inc. (OTCQB: IPSI) has launched a beta version of its IPSI Payroll™ platform, aiming to modernize ACH payroll processing using digital wallets. The system facilitates direct mobile payments and allows transactions to international destinations like Mexico. Agreements with Motor LA Logistics LLC and Lotus Logistics mark the start of beta testing. The platform targets unbanked and underbanked consumers, fostering a recurring revenue model while reducing payroll processing costs for businesses. IPSI looks forward to expanding its market presence in 2021.
Innovative Payment Solutions, Inc. (OTCQB: IPSI) has secured over $600k in new capital through fixed price financing with major shareholders, representing a 30% premium from the previous funding round in Q4 2020. This infusion of funds is intended to enhance the company's capacity to implement its digital payment solution, IPSIPay™, and expedite the integration with Golden Money Transfer's remittance platform. The Mexican Central Bank reported continued growth in money transfers, projecting a favorable market for IPSI's services.
Innovative Payment Solutions, Inc. (OTCQB: IPSI) has announced a new agency agreement with Golden Money Transfer, Inc. (GMT) to enhance its cross-border payment services. This partnership will lower costs for international remittances and provide access to licensed money transmission services in 30 key states. With GMT's extensive network, including nearly 25,000 locations in Mexico, IPSI aims to serve unbanked and underbanked communities more effectively. The two-year agreement is expected to validate IPSI's kiosk and digital wallet model while enhancing its financial services infrastructure.
Innovative Payment Solutions (OTCQB: IPSI) plans to enhance its Fin Tech platform, leveraging five years of experience in Mexico with over 2 million customers. They've enlisted Horizons Law and Consulting Group to assist in the development of IPSI Coin, a stable coin backed by US dollars, aimed at facilitating payments to 200+ service providers in Mexico. Additionally, self-service kiosks and a mobile application will be deployed in Southern California to enhance payment solutions for unbanked and underbanked consumers, promoting convenience and cost efficiency.
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