INNOVATIVE PYMNT SOLUTION - IPSI STOCK NEWS

IPSI announces IPSIPay Express launch in September and potential for millions of dollars in revenue. Exiting IPSIPay business to focus on IPEX. Completed 1-for-30 reverse stock split to attract investors.

Innovative Payment Solutions, Inc. (IPSI) announces a 1-for-30 reverse stock split effective on August 30, 2023. Stock symbol to change to IPSID for the first 20 trading days, then revert back to IPSI. CUSIP number for the common stock following the split is 45783M208.

Innovative Payment Solutions, Inc. (IPSI) has announced its funding of $500,000 to IPSIPay ExpressTM (IPEX), a joint venture between IPSI, Open Path, and eFinityPay. This funding gives IPSI an initial 11% equity interest in the joint venture, with the potential to increase to 33% upon additional funding. IPEX is developing an account-to-account payment application called Instant-Settlement in RealTime™ for the online gaming and entertainment industries. The joint venture partners believe that IPEX could generate millions of dollars in revenue with high margins. The IPEX API aims to mitigate fraud and chargebacks and comply with AML and KYC regulations. IPSI expects IPEX to offer traditional credit card processing in the future.

Innovative Payment Solutions (IPSI) provided an update on its joint venture, IPSIPay Express (IPEX), with OpenPath and eFinityPay. IPEX is focused on providing payment solutions to high-risk sectors such as online gaming and entertainment. Key developments include IPSI making an initial capital contribution of $200,000 to IPEX, expanding the scope of services to include traditional credit card processing, securing relationships with commercial banks, and beginning soft marketing of the payment solutions. It is now anticipated that IPEX could generate initial revenues during Q3 of this year.

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.