Innovative Payment Solutions, Inc. Initiates Rollout of Kiosks and Provides Update on IPSIPay Launch
December 16, 2021 at 09:00 am EST
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Innovative Payment Solutions, Inc. announced the initiation of its kiosk rollout and is providing an update on the launch of its IPSIPay App. The Company is initiating the launch of its kiosks with an initial focus on non-profit organizations, primarily churches in the central valley region in California. This area includes a disproportionately high population of immigrants, particularly from Mexico, a significant portion of which are either unbanked or underbanked. The church market represents a large opportunity, providing church members the ability to send money to Mexico, as well as a digital method to donate to the church in an easy and cost-effective way. According to CAMEO, Californias statewide Micro Enterprise Network, 25% of the states population of 41 million people, is either unbanked or underbanked, representing a market opportunity of over 10 million people. The Company is in the final stages of development for its IPSIPay App, and now expects its official release in January 2022. Concurrent with this release, the Company is planning to launch a digital marketing campaign to generate awareness and interest in its app rollout.
Innovative Payment Solutions, Inc. is a fintech provider of digital payment solutions and services to businesses and consumers, focusing on the needs of unbanked and underserved communities, particularly migrant communities in the United States. The Company is focused on operating and developing e-wallet mobile applications that enable consumers to deposit cash, convert it into a digital form, and remit the funds to Mexico and other countries quickly and securely. Its two e-wallet applications are IPSIPay and Beyond Wallet. Beyond Wallet is operational and is an institutional business-to-business product. The Companyâs IPSIPay App users can acquire VISA debit cards, as well as obtain a bank account at a major United States institution, enabling them to execute financial transactions through IPSIâs worldwide merchant network. The Companyâs IPSIPay Express provides merchants with a technology for payment processing that allows transactions, in real-time bank-to-bank account transfers.