Covid-19 was a year of radical change for many industries. The Digital Payment Market was no exception. Last year presented a much-needed shake-up and

reevaluation of outdated financial systems and technology. Older methods within banking are built layer upon layer of archaic systems hindering transaction speed and keeping currency exchange fees high.

At a time when contactless, online payment and money transfers were at an all-time necessity, traditional methods were failing and not accessible to everyone.

The subpar performance of both Visa and Mastercard during 2020 is a testament to a shift in the way people were thinking about their digital payment methods. Both companies experienced drops in revenue throughout 2020 and attributed this to a reduction in cross-border spending due to social distancing and border restrictions. Mastercard’s revenue in the last three months of 2020 fell almost 7% to $4.12 billion.

In January, Mastercard’s Chief Financial Officer, Sachin Mehra, attributed this to ongoing elevated cases and travel avoidance. He did not expect improvement and when commenting on potential results for the first quarter of 2021 he said.

“We believe visibility is dependent on border openings…the relaxation of social distancing measures and improvements in consumer confidence,”

The bigger question that arose from digital payment trends during the pandemic regardless of travel restrictions and social distancing was their efficiency and accessibility to everyone at a time when it was needed most.

It was the perfect moment for blockchain and cryptocurrency to shed its image as a misunderstood, volatile and complicated payment method. Blockchain has the potential to have a huge impact on a wide range of traditional financial models from fundraising and securities, to credit and loans. But on a simpler level, one area in particular that it has a global capacity to disrupt is digital payments.

Traditional banking methods and rates for payments and transfers are undeniably slower and more expensive. Not only can blockchain speed up payments but it can eliminate the need for a bank account altogether. This is of particular benefit to individuals in developing nations who don’t even have access to their own personal bank account. To highlight just how much of a problem this is:

• Globally, there are roughly 1.7 billion individuals who do not have access to a personal bank account
• In Mexico alone, 37% of individuals over the age of 15 don’t have their own account

Developing countries and markets at the forefront of this trend are set to gain momentum in 2021. In a recent blockchain and cryptocurrency report by PR News Wire, studies cite that

“by 2030, blockchain technology is expected to be a significant contributor to the global GDP, lifting it up by close to USD 2 trillion. Meanwhile, if the situation as at present, developing countries will be setting the trends in cryptocurrency implementation and development.”

Innovative Payment Solutions (OTCQB: IPSI) offers a borderless digital payment platform that allows underserved communities to make and receive transactions without the need for a bank account.

There is a huge need for a borderless payment platform that allows underserved communities to make and receive transactions without the need for a bank account. Innovative Payment Solutions (OTCQB: IPSI) has created a platform using blockchain and cryptocurrency technology to provide financial services to enable sending money to Mexico simple, fast, and secure. IPSI CEO, William Corbett describes his vision for the company.

“ We envisage a borderless world of digital transfers and payments, inclusive of all, where anyone can use it anytime, anyplace”

In a recent shareholder update, Mr. Corbett gave an update on the company’s progress. He talks about the impact Covid-19 has had on the company and his vision moving forward in 2021.

IPSI has created an integrated proprietary network technology that can be used through online, mobile, and physical channels presenting a wealth of advantages for its customer to send, receive and spend money from one place.

IPSIPay financial solutions offered to customers are:

• Faster: People can’t wait, they need access to their money quickly. A typical wire transfer can take hours if not days to settle, IPSIPay’s technology allows for near-instant settlements.
• Cheaper: In order to send money to Mexico to someone without a bank account, there are fees to cash a cheque, create a money order and receive in another currency. With IPSIPAy these multiple steps are eliminated and as a dollar-backed coin, high exchange fees between currencies are eliminated.
• More Secure: IPSIPay transactions are built on a blockchain, making them transparent and immutable. Once on the blockchain, it’s nearly impossible

to change data, making these transfers some of the most secure transactions technology can provide.

Let’s take a hypothetical example of an individual who works in Los Angeles and wants to send home money to his family in Mexico. If their family member does not have access to a bank account, they would have to arrange for a cheque or a money transfer to be sent. Not only does this take time to arrange and cost money to execute but it can take time to be received. The time, expense, and

hassle could easily be eliminated with the IPSI Solution. IPSI is striving to build a digital money network for the future to disrupt traditional financial service models and facilitate financial freedom.

To learn more about IPSI’s investment opportunity contact the Investor Relations team at [email protected]