Innovative Payment Solutions, Inc. Files an Application to Uplist Its Shares on NASDAQ

Rhea-AI Summary

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.

Positive

• Uplisting to NASDAQ expected to enhance visibility and liquidity.
• Elimination of toxic debt improves financial health.
• Significant capital raised indicates strong market support.
• Launch of a universal digital marketplace enhances service offerings.

Negative

• None.

NORTHRIDGE, CA, April 20, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Innovative Payment Solutions, Inc. (OTCQB: IPSI) (“Innovative” or the “Company”), a Southern California based fintech company focused on building a 21st century universal digital payment platform, IPSIPay™, today announced that its Board of Directors has voted to uplist the Company’s shares on NASDAQ.

William Corbett, Chief Executive Officer, commented, "These are exciting days for our company and our shareholders.  Over the past year, with the support and trust of our investment banker, our retail and institutional shareholders, we have achieved significant milestones. We have eliminated all our toxic debt, we have raised significant capital, and we have increased our shareholders value. The culmination of these achievements, along with the fulfillment of regulatory standards, warrants the need for our Company to join NASDAQ.

“Moreover, we are in the process of launching our universal digital marketplace platform, which will encompass prepaid cards, money transmittal domestically and abroad, and the emergence of our digital currency. I believe there is a tremendous opportunity for our Company in the digital payment world and our potential uplisting on Nasdaq will provide us with increased visibility, additional liquidity, and enhanced shareholder value.”

About Innovative Payment Solutions, Inc.

 Innovative Payment Solutions, Inc. strives to offer cutting edge digital payment solutions for consumers and service providers. Innovative Payment Solutions Inc.’s ecosystem will span multiple devices such as self-service kiosks, mobile applications and POS terminals offering alternative payment methods to meet the needs of consumers and service providers. (investor.ipsipay.com)

Forward-Looking Statements:

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These statements include, without limitation, statements related to the intended use of proceeds. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our ability to execute our business model and strategic plan for 2021, our ability to position Innovative for future profitability, our ability to successfully list shares on NASDAQ, our ability to enhance shareholder value, our ability to launch our universal digital marketplace platform, the duration and scope of the COVID-19 outbreak worldwide, including the impact to the economy in California and Mexico, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The Company makes no commitment to disclose any subsequent revisions to forward-looking statements, except as required by law. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.

For investor inquiries please call (866) 477-4729 or email investors@ipsipay.com.

FAQ

What did Innovative Payment Solutions announce on April 20, 2021?

They announced plans to uplist their shares to NASDAQ.

What is the significance of uplisting for IPSI?

Uplisting is expected to provide increased visibility and liquidity for shareholders.

What recent achievements did Innovative Payment Solutions highlight?

They highlighted the elimination of toxic debt and significant capital raised.

What new platform is Innovative Payment Solutions launching?

They are launching a universal digital marketplace platform that includes various payment methods.