Innovative Payment Solutions, Inc. Discusses the Potential of the Digital Banking Industry with The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - April 28, 2021) - The Stock Day Podcast welcomed Innovative Payment Solutions, Inc. (OTCQB: IPSI) ("the Company"), a Southern California based fintech company focused on building a 21st century universal digital payment platform, IPSIPay™. CEO of the Company, William Corbett, joined Stock Day host, Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "I was the Founder and CEO of an investment banking firm that raised billions of dollars for public and private companies with the sole intent of taking them public," explained Corbett. "We're really excited about the platform that we have and what it offers to the consumers and the businesses."
Jolly then commented on the investment potential of digital banking, and asked Corbett about the future of this industry. "I think what we have here is a paradigm shift," said Corbett, noting that a significant amount of the population prefers digital banking solutions. "These fabulous apps like Zelle and Venmo are wonderful, but they don't really address the issue with the unbanked and underserved," said Corbett. "I think the digital wallet is here to stay in the future; it is convenient."
"How is your company different from other players in this space?" asked Jolly. "I think it offers an unbelievable opportunity," said Corbett. "We had success in Mexico; we did about $11 million in 2019 offering digital payments to the largest population in Mexico, which is the unbanked," shared Corbett. "We learned that there are major global issues as it relates to people that don't have bank accounts or are underserved," he explained. "Our focus has been to build a Fintech company in California and address that by creating an all-in-one solution, almost a universal digital platform, if you will, that supports not just the unbanked and underserved, but anyone that wants to participate in digital payments."
"It means that from the palm of your hand, you have the ability to send payments across borders," continued Corbett. He then elaborated on the Company's platform, which will allow users to deposit money into their digital wallet without requiring a bank account. "We like the fact that it is convenient, it is affordable, and more importantly, it opens up blockchain and cryptocurrency to the equations as well. It is really this universal platform that is the hub, which will allow a consumer and a business to make payments, to buy microloans, and use all kinds of financial services that they've never had access to before."
"We also have IPSI Payroll, which will allow money to come into the system through ACH," said Corbett. "So, instead of receiving a check, which is inconvenient to individuals without a checking or savings account, you offer them the ability to ACH their money onto a digital platform," he explained. "From the digital platform and the app, they have the functionality of spending money all around the world if they choose."
"With $4 billion a month going to Mexico from America and $7 billion a year going into crypto, we feel we are poised to take advantage of both of those markets for our shareholders," continued Corbett. "We have a product called a dollar-backed stable coin that we are going to roll out shortly," shared Corbett, adding that the coin will be backed by blockchain and offer an immediate settlement.
"Where are you at in the process of uplisting to the NASDAQ?" asked Jolly. "We're really excited about that," said Corbett. "We applied last week to NASDAQ and we think we meet the criteria to trade there," he shared. "We're doing everything we can with the application to get it approved as soon as possible," said Corbett. "We're pretty confident that it might work out well for our shareholders."
"You are pre-revenue, but you did revenues in 2019. Is that correct?" asked Jolly. "That is absolutely correct," said Corbett. "We were in Mexico for about four years and had 2 million people using the product, the kiosk, on a daily basis," explained Corbett. "We did about $11 million and sold that business with the idea to pivot here," he said. "The reality is, we think we can cut into the markets of the old brick and mortars and give back to a group of people that really need help."
"What is the outlook for the future over the next three to four years?" asked Jolly. "I think we're looking at a world where the technology is getting better and better. Our focus is going to be not to discriminate, to be able to allow people, companies, businesses, B2B, and B2C to use our universal digital platform. I think it's only going to get more and more efficient, and I think it will get more regulated," shared Corbett. "I think it's really important that we allow everyone to have the same opportunity. There is no reason to discriminate," he added. "We feel there is a huge paradigm shift and we feel we are poised to take advantage of it, and it's now up to us to execute."
To hear William Corbett's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7854681-innovative-payment-solutions-inc-discusses-the-potential-of-the-digital-banking-industry-with-t.
About Innovative Payment Solutions, Inc.
Innovative Payment Solutions, Inc. strives to offer cutting edge digital payment solutions for consumers and service providers. Innovative Payment Solutions Inc.'s ecosystem will span multiple devices such as self-service kiosks, mobile applications and POS terminals offering alternative payment methods to meet the needs of consumers and service providers. (investor.ipsipay.com)
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These statements include, without limitation, statements related to the intended use of proceeds. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: market and other conditions, the impact of economic, competitive and other factors affecting the Company and its operations. The Company makes no commitment to disclose any subsequent revisions to forward-looking statements, except as required by law. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
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