Collaboration to Address the “Unbanked/Underbanked” Communities in the U.S. and Latin America While Fostering A Humanitarian Spirit
CARMEL BY THE SEA, Calif. July 11, 2022 – Innovative Payment Solutions, Inc. (OTCQB:IPSI) (“IPSI” or the “Company”), a fintech provider of digital payment solutions to both business owners and consumers, announced today that it has signed an exclusive endorsement agreement with TV personality Mario Lopez (“Access Hollywood,” “Saved By The Bell”) to increase awareness regarding IPSI’s products.
Mr. Lopez will work as IPSI’s spokesperson to highlight the challenges faced by the unbanked and underserved communities in the United States and Latin America emphasizing how IPSI’s products can help address these challenges. IPSI is focused on developing and providing mobile application e-wallets that enable customers to deposit cash, convert it into a digital form, and remit the funds to Mexico and other countries in a secure, efficient, and cost-effective manner. IPSI’s flagship e-wallet IPSIPay™, is fully operational and with the addition of Mr. Lopez, is ready for commercial launch. IPSI expects that Mr. Lopez’s significant sphere of influence will be a key aspect of the IPSIPayTM launch strategy.
Mr. Lopez commented, “I have many relatives that live in both the US and Mexico. I am very familiar with the issues that come with simply wanting to send money home to family members but having to pay ridiculously high fees in order to do so. I grew up right on the border in Chula Vista (San Diego) and my parents, who immigrated from Mexico, raised me in the US which afforded me every opportunity to accomplish all of the successes that I’ve been so blessed to have achieved in my life. I want to do my part in giving that same opportunity to others. I’m excited about this partnership with IPSI and am very proud to be closely associated with a company that I believe can make a real difference in many people’s lives, especially those who are often underserved in the simple task of taking care of their hard-earned money.”
William Corbett, IPSI’s Chairman and Chief Executive Officer, added, “We are honored to partner with Mario Lopez as a spokesperson for our innovative digital payment solutions. Having parents that immigrated from Mexico while also having achieved amazing success in the U.S. and around the world as an actor and television host, Mario is well positioned to understand the needs of the underserved Hispanic and migrant community and the benefit that IPSI’s solutions can provide. Mario and IPSI are committed to inclusion and the humanitarian efforts of providing solutions that bring instantaneous cross-border payments by individuals and companies alike. IPSI’s robust technology platform that functions like a bank in the palm of your hand, enables digital transactions that are convenient, cost effective, fast, and secure, bringing opportunity to a growing community. Our customers, many of which are unbanked, are able to acquire a VISA debit card as well as four additional companion cards for family members. We look forward to a long and productive relationship with Mario.”
About Mario Lopez
Mario Lopez (born in San Diego, CA) is an American actor, producer, best-selling author, and two-time Emmy award winning television host of the entertainment news series, ACCESS HOLLYWOOD. He also hosts the nationally syndicated IHeart radio show, ON WITH MARIO LOPEZ. He is currently leading the search for a new generation Menudo band. Lopez, over his 40-year career in entertainment, has appeared in numerous television series’, films, as well as a leading role on Broadway’s A CHORUS LINE, where he met his wife, Courtney. Lopez has been an active ambassador for the BOYS AND GIRLS CLUB for more than two decades and, for the last 5 years, has hosted his annual charity golf tournament that benefits PROVIDENCE ST. JOSEPH HOSPITAL in Burbank, where his children were born. He currently lives in Los Angeles with his wife, 3 children, and their 2 dogs.
About Innovative Payment Solutions, Inc.
Innovative Payment Solutions, Inc. is a cutting-edge provider of digital payment solutions for consumers and service providers, focusing on the needs of the unbanked and underbanked. Through its IPSIPay™ app and Beyond Wallet offerings, IPSI facilitates instantaneous cross-border remittances by companies and individuals, using its robust technology platform to enable digital transactions that are convenient, cost effective, fast, and secure. IPSIPay™, app users are able to acquire VISA debit cards, as well as obtain a bank account at a major U.S. institution, enabling them to execute financial transactions through the Company’s large, worldwide merchant network.
To learn more about Innovative Payment Solutions, Inc., please visit www.ipsipay.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 made by Company management and the Company’s commercial collaborators. 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 or the negative of these terms or other comparable terminology. These forward-looking statements are based on expectations and assumptions as of the date of the press release and are subject to significant risks and uncertainties, many of which are difficult to predict that could cause actual results (including, without limitation, the results of the Company’s collaboration with Mario Lopez as described herein) to differ materially and adversely 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 expectations include, among others: (i) the Company’s ability to successfully roll out the new IPSIPay App and related capabilities; (ii) the Company’s ability to increase its number of users (including the ability of Mr. Lopez effectively promote the Company’s products); (iii) the Company’s ability to operate its platform without errors; (iv) the Company’s ability to operate its technology for use in all U.S. states and foreign countries; (v) the Company’s ability to generate revenue, positive cash flow or profitability; (vi) the duration and scope of the COVID-19 pandemic worldwide (which has delayed the launch of IPSIPay), including the impact to the economy in California and Mexico; and (vii) the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, 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. 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.
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