Innovative Payment Solutions, Inc. Launches Kiosk Deployment and Provides Update on IPSIPay Launch

CARMEL BY THE SEA, Calif., December 16, 2021 (GLOBE NEWSWIRE) – Innovative Payment Solutions, Inc. (OTCQB: IPSI) (“Innovative”, “IPSI” or the “Company”), a California-based fintech company focused on Building a 21st century universal digital payment platform, IPSIPay, today announces the launch of its kiosk deployment and provides an update on the launch of its IPSIPay application.

The company kicks off the launch of its kiosks with an initial focus on nonprofits, primarily churches in the Central Valley region of California. This area has a disproportionately high immigrant population, especially from Mexico, a significant portion of which is either unbanked or underbanked. The church market represents a great opportunity, providing church members with the ability to send money to Mexico, as well as a digital method to donate to the church in a simple and easy way. profitable. According to CAMEO, the California State Microenterprise Network, 25% of the state’s population of 41 million is either unbanked or underbanked, representing a market opportunity for more. of 10 million people.

The company is in the final stages of developing its IPSIPay application and is now awaiting its official release in January 2022. Along with this release, the company plans to launch a digital marketing campaign to raise awareness and generate interest in deploying its application.

William Corbett, CEO of Innovative Payment Solutions, Inc. commented, “The launch of our kiosk is an important milestone in our efforts to provide digital payment services to the unbanked and underbanked. Our launch will take place as part of a strategic and targeted approach to focus on the regions. with the demographics that need these solutions as well as the organizations that would benefit the most, including AgriTech, payroll departments, and churches. Given these criteria, our initial focus will be churches in the Central Valley region of California, where there is a large population of unbanked and underbanked people who actively send money to Mexico.

Pastor Rudy Sanchez, of 4Life Ministries in Merced, Calif., Said, “Being able to offer a safe and secure kiosk will provide our parishioners with a simple and efficient way to donate to our church, allowing us to accomplishing some of our goals from downtown to this community. Plus, it gives families a safer, more affordable way to do business around the world and have the support of our staff in an environment like our church.

Mr Corbett added: “We continue to work diligently to finalize our IPSIPay application and now plan to run this launch after the holidays. Although slightly delayed, we have significantly expanded the functionality of the app. In addition to the ability to conveniently and inexpensively send money to Mexico from mobile phones, we have included additional features including the ability to buy and sell Bitcoin, Ethereum, gold and silver. Our app also includes the ability to get Visa debit cards which, combined with its many other features, provide our customers with bank-like functionality.

“Our top priority when launching this app is to make sure it’s fully functional and ready. We are planning a major digital marketing campaign to generate market interest in these solutions which is closely linked to the launch, ”concluded Mr. Corbett.

About Innovative Payment Solutions, Inc

Innovative Payment Solutions, Inc. strives to deliver cutting-edge digital payment solutions to consumers and service providers, providing a cost-effective and secure method of sending money globally. Innovative Payment Solutions Inc.’s ecosystem will span multiple devices such as self-service kiosks, mobile apps, and point-of-sale 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 statements of historical fact contained in this press release are forward-looking statements. In some cases, forward-looking statements may be identified by words such as “anticipate”, “believe”, “may”, “continue”, “could”, “estimate,” “expect”, “intend” , “Could”, “plan”, “potential”, “predict”, “project”, “should” or “will” or the negative or negative of these terms or any other comparable terminology and include statements regarding the annual meeting and information about the intended ecosystem. These forward-looking statements are based on expectations and assumptions at the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict and could cause actual results to differ materially from those. current expectations and assumptions. those stated or implied by forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, our ability to accelerate and expand late stage development of our digital platform, our ability to roll out later this summer our all-in-one solution. as planned, our ability to launch our kiosk deployment program in Southern California as planned ahead of COVID-19, our ability to position the Company for future profitability, the duration and extent of the COVID epidemic- 19 around the world, including the impact on the economy in California and Mexico, and other factors discussed in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2020, and subsequent filings by the Company with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is being provided only as of the date of this release, and the Company has assumes no obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise, except as required by law. .

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Elaine R. Knight