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Innovative Payment Solutions, Inc. (IPSI)

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0.1017+0.0023 (+2.31%)
As of 10:37AM EDT. Market open.
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Previous close0.0994
Open0.0968
BidN/A x N/A
AskN/A x N/A
Day's range0.0968 - 0.1045
52-week range0.0090 - 0.3600
Volume417,297
Avg. volume5,548,351
Market cap35.531M
Beta (5Y monthly)2.63
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Innovative Payment Solutions, Inc. Announces Appointment of Jonathan Severn to Lead the Company's Prepaid Card Division
    GlobeNewswire

    Innovative Payment Solutions, Inc. Announces Appointment of Jonathan Severn to Lead the Company's Prepaid Card Division

    NORTHRIDGE, CA, May 06, 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 the appointment of Jonathan Severn to lead the Company’s prepaid card division. “Mr. Severn is an invaluable addition to our team,” said CEO Willaim Corbett. “We believe Jonathan’s track record and success in the credit and prepaid cards business makes him the ideal person to lead our merchant processing and P2P division. With the final development of our payment processing system just around the corner, we’re confident that Jonathan’s leadership will enable a swift integration of IPSIPay™ card services into our universal digital marketplace platform.” Native of Ventura County, Mr. Severn has been involved in the prepaid cards payment industry for over 30 years. In 1990, Mr. Severn served as an agent for Cardservice International, the largest privately held Independent Service Organization serving hundreds of thousands of merchants nationwide with credit card processing services, a rewards program, and software development. During his time at Cardservice, the Company became the largest privately held Independent Service Organization and Mr. Severn’s agency was the second largest in the U.S. In 2002, Cardservice International was sold to First Data in total for over $450 million. Following his time at Cardservice International, Mr. Severn founded Applied Merchant that oversaw approximately $20 billion annually in credit card transactions. The Company was sold for almost $150 million to Prudential Insurance in 2018. “I am very excited to join IPSIPay™ and hope to bring my experience and knowledge to elevate the Company’s cards and merchant processing business moving forward. I am intrigued by the business model IPSIPay™ has developed, including the humanitarian aspect that addresses challenges faced by underserved consumer. Since I have built my companies from ground up, I can also relate to the challenges small companies face daily and I welcome the opportunity to lead the IPSIPay™ P2P division.” SAFE HARBOR STATEMENT This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "anticipate," "believe," "can," "continue," "could," "estimate, "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the negative of these terms or other comparable terminology and include statements regarding the expected contribution of Mr. Severn. These forward-looking statements are based on expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectation include, among others, Mr. Severn ‘s ability to enable a swift integration of IPSIPay™ card services into the Company’s universal digital marketplace platform, our ability to position the Company for future profitability, 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 Dec. 31, 2020, and the Company's subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. For investor inquiries please call (866) 477-4729 or email investors@ipsipay.com.

  • Innovative Payment Solutions, Inc. Announces Appointment of Clifford W. Henry and Madisson G. Corbett to Board of Directors
    GlobeNewswire

    Innovative Payment Solutions, Inc. Announces Appointment of Clifford W. Henry and Madisson G. Corbett to Board of Directors

    NORTHRIDGE, CA, May 03, 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 the appointment of Clifford W. Henry and Madisson G. Corbett to the Company’s Board of Directors. Following the appointment of Mr. Henry and Ms. Corbett, Innovative’s Board will be comprised of 5 directors, 3 of whom are independent. “We are pleased to welcome Cliff Henry and Madisson Corbett to our Board,” said James Fuller, Director of the Board. “Cliff’s experience in investment management and Madisson’s background working with successful fintech start-ups will be invaluable additions to our team. Moreover, as Innovative continues to grow and develop its digital payment platform, we believe these two new members will help us achieve our business strategy and provide sound insight for our Company.” Mr. Henry is Chairman and CIO of CWH Associates, an investment management and consulting firm he founded in 1989. CWH is the owner and General Partner of Worthington Growth, LP, one of the earliest thematic focused, research-driven investment funds specializing in small and mid-cap companies. In addition to his investment work, Mr. Henry has served a number of companies as a director or advisor. He is also involved extensively in pro bono work most recently as a Chairman of the Indian River (Florida) Cultural Council and was a founding Chairman of the Board of Trustees of the Clay Art Center in Port Chester New York. Ms. Corbett has extensive experience in sales and built the sales development organizations at Series A-C tech companies. Ms. Corbett’s career in sales began in San Diego, overseeing global sales and marketing at the top surf wax company in the US. Ms. Corbett then worked at the International Surfing Association, recognized by the International Olympic, Committee and helped introduce surfing to the Olympics in 2020. After her time in San Diego, Ms. Corbett began working for various Y Combinator companies including payroll & benefits platform, Gusto, hiring software, Lever, and mental health start up, Modern Health. Presently, Ms. Corbett works for fintech start-up, Brex.com and has been with the company over the last two years. She built out the entire sales development organization from scratch and oversaw top of funnel production for the Go To Market Team at Brex.com. Ms. Corbett managed the increase of reoccurring annual revenue from $20,000,000 to $100,000,000 in just 18 months and her team accounted for 85% of the net new revenue generated during the period. About Innovative Payment Solutions, Inc. Innovative Payment Solutions, Inc. (“Innovative”) strives to offer cutting edge digital payment solutions for consumers and service providers. Innovative’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) SAFE HARBOR STATEMENT This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate, “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” or “will” or the negative of these terms or other comparable terminology and include statements regarding the expected contribution of Mr. Henry and Ms. Corbett as the Company seeks to accelerate its business development and evolve. These forward-looking statements are based on expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectation include, among others, our ability to position the Company for future profitability, 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 Dec. 31, 2020, and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. For investor inquiries please call (866) 477-4729 or email investors@ipsipay.com.

  • Innovative Payment Solutions, Inc. Announces Signing a Service Agreement with Red Efectiva S.A. DE C.V.
    GlobeNewswire

    Innovative Payment Solutions, Inc. Announces Signing a Service Agreement with Red Efectiva S.A. DE C.V.

    NORTHRIDGE, Calif., April 29, 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 digital payment solution, IPSIPay, today announced that it has signed a Service Agreement with Red Efectiva S.A. DE C.V. (“Red Efectiva”) https://redefectiva.com/web/ – a payment processing company based in Monterrey, Mexico. Red Efectiva is a leading service provider and payment processor in Mexico. With over 2,500 locations, Red Efectiva offers more than 150 services, such as domestic bill pay, prepaid air time for mobile phones, banking operations and insurance packages. This agreement with Red Efectiva will strengthen Innovative’s presence in Mexico and more importantly, will aid underserved customers living in US and Mexico who are in need of financial payment services with swift transaction time and substantially reduced costs. COVID-19 has pushed many customers towards digitalization and increased the demand for secure and affordable digital payments, which has triggered the need to expand mobile payments infrastructure. Partnering up with Red Efectiva will allow Innovative to access this infrastructure and deliver much needed financial services both locally and abroad. Mexico is steadily establishing itself as an evolving e-commerce industry: mobile commerce revenues are outpacing total e-commerce expansion, and the sector is forecasted to expand at a 20.1 percent annual rate through 2023 reaching almost $28.5 billion. Furthermore, Mexico's digital payments market through Mobile POS Payments has reached $8.5 billion in 2020, which is more than double 2019 numbers, and by 2025 the industry is expected to generate $30 billion. Innovative sees a huge opportunity to break into this market while also assisting retailers in the United States and Mexico in streamlining their operations and lowering costs. Andrey Novikov, CTO of Innovative Payment Solutions, Inc., stated, “The Service Agreement with Red Efectiva gives our Company an opportunity to broaden our IPSIPay ecosystem and reach thousands of people in need of our services. Our universal digital payment platform and mobile technology will make financial services more inclusive and affordable. Mexico is our initial roll out in Latin America and we anticipate further expansion across Central and South America in the near future.” https://www.statista.com/outlook/dmo/fintech/digital-payments/mexico https://www.jpmorgan.com/merchant-services/insights/reports/mexico-2020 About Red Efectiva S.A. DE C.V. Red Efectiva is a leading service provider and payment processor in Mexico. With over 2,500 locations, Red Efectiva offers more than 150 services, such as domestic bill pay, prepaid air time for mobile phones, banking operations and insurance packages. 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: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statement of historical fact contained in this press release are forward-looking statements. In some case, forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate, “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” or “will” or the or the negative of these terms or other comparable terminology and include statements regarding this agreement strengthening Innovative’s presence in Mexico and aiding underserved customers living in US and Mexico, statements regarding opportunity to break into digital payments market while also assisting retailers in the United States and Mexico in streamlining their operations and lowering costs, statements regarding Service Agreement with Red Efectiva as an opportunity to broaden our IPSIPay ecosystem and reach thousands of people in need of our services, statements regarding our universal digital payment platform and mobile technology making financial services more inclusive and affordable. These forward-looking statements are based on expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectation include, among others, our ability to access mobile payments infrastructure via partnership with Red Efectiva, our ability to deliver financial services both locally and abroad, our ability to further expand across Central and South America in the near future, our ability to launch our kiosks rollout program in Southern California as has been previously planned before COVID-19, our ability to position Innovative for future profitability, 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 information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. For investor inquiries please call (866) 477-4729 or email investors@ipsipay.com.