Innovative Payment Solutions Inc - IPSI stock
OTC Symbol: IPSI | OTC Tier: OTCQB
About Innovative Payment Solutions[edit]
Introduction[edit]
Innovative Payment Solutions, Inc. (OTC: IPSI) offers businesses and customers in the United States digital payment solutions and services. The Company focuses on running and creating electronic wallets that help users deposit cash, turn it into a digital form, and send the money swiftly and safely to Mexico and other nations.[1]
Beyond Wallet is the company's first electronic wallet. The Company is also concentrating on developing IPSIPay, its flagship e-wallet. The company plans to employ its current kiosks in a few southern California target markets. In order to attract consumers, it also plans to initially concentrate on underdeveloped labor markets like the Californian farm sector.
Using its strong technological infrastructure to enable comfortable, economical, quick, and secure digital transactions, IPSI facilitates immediate cross-border remittances by businesses and people through its IPSIPay App and Beyond Wallet products. Users of the IPSIPay App can get VISA debit cards and open bank accounts at well-known U.S. institutions, allowing them to conduct financial transactions through the extensive global merchant network of IPSI.[2]
Origin Story[edit]
Innovative Payment Solutions, Inc. was incorporated in 2013 and is based in California, United States. The company was formerly known as QPAGOS and changed its name to Innovative Payment Solutions, Inc. in November 2019.[3]
Operations[edit]
IPSIPay[edit]
IPSIPay Technology[edit]
IPSIPay is a payment processing technology offering a range of payment solutions for businesses and individuals. IPSIPay offers payment gateway solutions, e-commerce payment processing, mobile payment solutions, and other payment-related services. IPSIPay aims to provide safe, reliable, and efficient payment solutions that enable businesses to grow and expand their operations globally. IPSIPay also offers advanced fraud protection features and customizable payment solutions to meet the specific needs of their clients. This technology is claimed to be a one-touch solution for customers that provides faster and less expensive money transfers, allows customers to instantly send money internationally, and offers a cost effective option to replace traditional ACH transactions.[4]
IPSIPay Marketing Campaign[edit]
A new marketing campaign in 2022 resulted in 10,000 app downloads which resulted in 1,200 IPSIPay users in the first two months of the campaign. The company plans to continue its marketing efforts to further promote the IPSIPay platform and expand its customer base. IPSI also recently launched a new website and mobile app for IPSIPay, which is designed to provide a more user-friendly experience for customers.[5] In addition, IPSI has partnered with actor and TV personality Mario Lopez and National Positions, a digital marketing agency, to launch a new marketing campaign to promote the IPSIPay platform. The campaign aims to increase awareness of IPSIPay's payment processing solutions and drive adoption among businesses and consumers. According to the press release, the campaign includes various marketing initiatives such as social media ads, email marketing, influencer marketing, and targeted online advertising.[6]
DRUID[edit]
IPSI has collaborated with Druid, a conversational AI technology provider, to introduce a voice command function for the IPSIPay mobile app. This feature allows users to make payments and perform other tasks on the app using voice commands. The collaboration with Druid will enable IPSIPay to enhance its user experience and provide a more convenient and efficient way for customers to use the app. The voice command feature is powered by natural language processing (NLP) technology, which allows the app to understand and interpret spoken commands from users.[7]
Joint Venture[edit]
IPSI made its initial capital investment of $500,000 in the joint venture called IPSIPay ExpressTM in August, 2023. This venture is a limited liability company formed in collaboration with Open Path and eFinityPay. With this contribution, IPSI obtains an 11% equity stake in the joint venture. It is expected that this stake will increase to 33% once two more tranches of $500,000 each, totaling $1 million, are funded. These two tranches are scheduled to be provided by September 30 and October 31, 2023, respectively.[8]
Management Team[edit]
William Corbett, Chairman & CEO: Mr. Corbett was formerly a Wall Street executive with over 30 years of experience in Investment Banking including many years at Bear Stearns and Lehman Brothers.
Richard Rosenblum, CFO: Mr. Richard is a Business veteran in the areas of Financial services, capital markets, and real estate. His experience ranges from Managing Director at several Investment Merchant banks and Board of Directors of both Public and private companies.
James Fuller, Independent Director: Former Chairman of San Francisco think tank Pacific Research Institute. Board member, The International institute of Education. Former SVP, New York Stock Exchange, a former member of Committee of Foreign relations & board of trustees of the University of California.
- ↑ Yahoo Finance. IPSI Quote. Retrieved on 11/24/2022.
- ↑ SEC.report. Innovative Payment Solutions. Retrieved on 11/29/2022.
- ↑ CNBC.com. IPSI Stock. Retrieved on 11/24/2022.
- ↑ ipsipay.com. IPSI Investors. Retrieved on 4/26/2023.
- ↑ GlobeNewswire. Innovative Payment Solutions Announces 10,000 Downloads and 1,200 IPSIPay® Converted Users in First Two Months of Marketing Campaign. October 25, 2022.
- ↑ GlobeNewswire. Innovative Payment Solutions Along With Mario Lopez and National Positions Launch A New Digital Marketing Campaign. September 22, 2023.
- ↑ AITHORITY. Innovative Payment Solutions Introduces Voice Command Function for IPSIPay App Through Collaboration with Conversational AI Technology Provider DRUID. August 30, 2022.
- ↑ GlobeNewswire. Innovative Payment Solutions Announces Funding of Its Initial $500,000 Contribution to IPSIPay Express. August 3, 2023.
