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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 announced a strategic partnership with Bullet Blockchain (OTC: BULT) to revolutionize cross-border remittances to Mexico through Bitcoin ATMs. The collaboration leverages BULT's patented Bitcoin ATM technology and network across the U.S., allowing customers to convert cash, debit, or credit funds into Bitcoin or USDC for quick remittances.
The partnership integrates Silo Technologies' cybersecurity wallet solutions, featuring real-time threat detection, MiCA-aligned encryption, and AML/KYC compliance tools. This addresses the 70% surge in digital payment fraud observed in Latin America during 2023. The companies will launch co-branded marketing campaigns in California, Texas, and Florida, where BULT's ATM network is expanding.
Innovative Payment Solutions (OTCQB:IPSI) and Business Warrior (OTC:BZWR) have signed a definitive merger agreement. IPSI will acquire 100% of BZWR, with BZWR stockholders receiving 45% of the outstanding post-closing shares of IPSI common stock. The merger aims to combine IPSI's revolutionary payment technology, IPSIPay Express, with BZWR's PayPlan cloud-based lending platform. Key transaction terms include:
1. Convertible note recapitalization
2. Conversion of BZWR securities
3. Formation of a new five-member board
4. Customary closing conditions, including stockholder approval
The merger is expected to bring immediate cost efficiencies, a stronger executive team, and increased revenue generation potential. IPSI's payment technology aims to revolutionize medium and high-risk processing sectors, while BZWR's PayPlan offers lenders customizable loan management solutions.
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.
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