Innovative Payment Solutions Inc (OTCMKTS: IPSI) Launches North as Digital Payments Provider Gains VISA Approval and Launches IPSIPay App in App Store
Innovative Payment Solutions Inc (OTCMKTS: IPSI) is a low-float digital payment solution targeting the $100 billion remittance market that is rapidly climbing the rankings and getting noticed by investors. Currently trading at a market valuation of $12 million, the stock reached $0.36 in February 2021 with virtually the same stock structure as today. IPSI is an SEC filer and fully declares the OTCQB with little debt and $3.6 million to the Treasury. In early May, the stock fell below $0.01 and over $10 million was sold there, the seller who had taken the stock down from its 2021 highs sold the rest of his position. Since then, IPSI has been steadily moving north as there are buyers and no sellers. While volume has increased significantly in recent days, the stock is starting to see explosive moves up 43% on Friday alone, a day when the DOW was down over 880 points.
Although the company has been slow to release recently in April, it announced the launch of the second phase of the IPSIPay app after VISA® was approved for use of its debit card services under IPSI Pay. Following the initial launch of IPSIPay in December 2021, the availability of VISA debit card capability as part of IPSIPay enhances IPSIPay’s positioning as an attractive mobile banking solution for IPSI’s initial target market – the large and growing unbanked, underbanked and $50 billion money transfer market just between the United States and Mexico. The IPSIPay application offers a cheaper, faster, secure and more convenient solution. Users can use the app to send wallet-to-wallet transactions and load money onto VISA debit cards, allowing customers to access funds through ATMs as well as hundreds of thousands of businesses that accept VISA throughout Mexico. Currently, sending money with the app is free for the sender and receiver, making it a cost-effective solution for a population of people who typically have limited access to banking services.
Innovative Payment Solutions Inc (OTCMKTS: IPSI) operating out of Carmel by the Sea, California, is a fintech provider of digital payment solutions and services for businesses and consumers. The Company is focused on operating and developing “electronic wallets” that allow consumers to deposit money, convert it to digital form and transfer the funds within Mexico and other countries quickly and securely. security. IPSI’s first electronic wallet, the Beyond Wallet, is currently operational. The company’s flagship e-wallet, IPSIPay, was soft-launched in December 2021.
In January, IPSI launched the IPSIPay app (find it here in the App Store) representing an important step in the Company’s strategy to establish a dominant position in the world’s largest remittance markets. The company’s IPSIPay app offers users a cost-effective way to send money to Mexico, which, according to wral.com, is the world’s third-largest remittance recipient and accounts for annual remittances over $50 billion. In addition to its functionality to send and receive funds, the IPSIPay app also acts as a digital wallet, allowing users to perform many banking functions, including the ability to use a VISA debit card to perform financial transactions. The app also allows users to invest in cryptocurrencies, gold, and silver.
In addition to Mexico, IPSI is also targeting India and the Philippines, which represent three of the top four remittance recipients in the world. The IPSIPay application, in addition to the ability to make payments, provides various other valuable services for the unbanked and underbanked, providing a low-cost solution that allows them to have access to many payment services. made via their phone. Compared to alternatives on the market, the IPSIPay app provides discounted money transfer and banking-like services, offering a viable alternative with lower costs and greater functionality. The lower costs associated with the IPSIPay app align with the current United Nations mandate to reduce remittance costs, which aims to help migrant workers around the world.
Compared market capitalization and share structure between $hmbl and $ipsi and it is day and night. Without forgetting any dilution for ipsipay. Do your homework this week as ipsi will see gains again next week.
— IpsiVsHumbl (@ipsivshumbl) June 11, 2022
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IPSI engaged Response Media to execute a digital marketing campaign and maximize awareness of the IPSIPay platform. The company is confident that as potential users better understand the features and attractive price of the IPSIPay app, IPSI will see a surge in the number of active users.
On April 4, IPSI announced the launch of the second phase of its IPSIPay application following the approval of VISA® for the use of its debit card services under IPSIPay. Following the initial launch of IPSIPay in December 2021, the availability of VISA debit card capability as part of IPSIPay reinforces IPSIPay’s positioning as an attractive mobile banking solution for IPSI’s initial target market – the growing unbanked, underbanked and money transfer market.
The new IPSIPay VISA debit cards can be obtained through the IPSIPay app, allowing users to transact anywhere VISA is accepted worldwide. The VISA debit card is loaded using the IPSIPay app, providing users with the ability to withdraw money with a nominal fee from their digital wallet using the VISA debit card at ATMs tickets. The IPSIPay VISA Debit Card also allows customers to access their money from an extensive network of merchants around the world, providing the ability to make everyday purchases anywhere VISA cards are accepted. Simultaneously, the cards provide users with a bank account through Metropolitan Bank, allowing users to potentially establish or improve their credit.
This second phase of the IPSIPay app launch also features increased functionality, including the ability for users to make cash deposits to their IPSIPay wallets at Chase, Bank of America and Wells Fargo branches, which is becoming available immediately. for use in their digital wallet on the IPSIPay app. This increased functionality also supports all current IPSIPay features, such as wallet-to-wallet cashless transactions, including across borders (including US to Mexico).
The IPSIPay VISA Debit Card offers people accustomed to relying on cash the opportunity to live in the cashless economy that has emerged, providing a convenient, efficient and cost-effective way for the unbanked and underbanked to move money at significantly lower rates. than traditional methods. Fees associated with accessing money through ATMs are minimal and there is no cost to users to move funds between wallets or to make purchases directly with their wallets. offering IPSIPay users flexibility in transferring money across borders.
The card offers significant benefits to users of the IPSIPay app, ultimately making it easier and cheaper to transfer money to and from anywhere in the world. The VISA debit card also offers users the ability to withdraw funds from their IPSIPay digital wallet, giving users much more flexibility to access money that is on their IPSIPay app and giving users access to a extensive network of ATMs.
IPSI CEO William Corbett said: “We believe that while these benefits will be a game-changer for our users and create the potential to add millions of people and dollars to the cashless economy, it does not is just the beginning. We look forward to updating our shareholders on exciting future developments for IPSI very soon.
— IpsiVsHumbl (@ipsivshumbl) June 11, 2022
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Currently trading at a market valuation of $12 million IPSI has 367,901,679 shares outstanding, of which 90,036,969 are restricted, leaving 277,864,710 IPSI shares free for trading. The company is well funded with $3.6 million in cash and does not dilute the stock. IPSI OS has not changed since August 2021 and is virtually the same share structure that IPSI had in February 2021 when the stock stood at $0.36 per share, representing a valuation of over $100 million. HMBL a company in the same field with a significantly less well-developed product traded at a market valuation of $1 billion at one point. IPSI initially targets the south California then expand to other states, including Texas and Florida, which have large immigrant populations. IPSI’s initial target market – the large growing unbanked, underbanked and $50 billion money transfer market between the United States and Mexico. The Company believes they have a superior product and if they are able to capture even a very small share of the market, this represents a significant revenue opportunity for IPSI. We’ll update IPSI when more details emerge, so make sure you’re subscribed to Microcapdaily.
Disclosure: We don’t hold any positions in IPSI, long or short, and we weren’t compensated for this article