IPSI reports fourth quarter 2022 growth in IPSIPay downloads and active users
New initiatives for 2023 seek to drive revenue growth and shareholder value
CARMEL BY THE SEA, Calif., Jan. 19, 2023 (GLOBE NEWSWIRE) — Innovative Payment Solutions, Inc. (OTCQB:IPSI) (“IPSI” or the “Company”), a fintech provider of digital payment and other solutions to both consumers and businesses, today has provided shareholders with an update on its corporate accomplishments and business development plans in a shareholder letter from Chairman of the Board and Chief Executive Officer William Corbett.
Dear Fellow Shareholders:
On behalf of our entire organization, we hope you had an enjoyable holiday season and are off to a healthy, happy and successful New Year!
2022 Sets the Stage for the Future of IPSI
2022 was a year of many significant milestones for Innovative Payment Solutions, as we worked to set the stage to meet our key corporate objectives – driving revenue and shareholder value growth.
Most importantly, we launched our IPSIPay® and Beyond Wallet apps and are beginning to see customer downloads and usage, notable with IPSIPay. Our cutting-edge apps provide safe, secure, and convenient ways to send money around the world, with our IPSIPay launch strategy initially focusing on the underbanked and underserved immigrant communities in the United States. Leveraging our robust technology infrastructure developed with third party vendors, these two novel platforms allow us to incorporate stringent compliance features (including KYC (know your customer) and AML (anti-money laundering)) for onboarding of customers. This has enabled us to partner during 2022 with key third parties that drive the core functionality of our apps and has also allowed us to begin to expand our product offerings beyond money remittance into exciting other verticals.
- Our collaboration with Metropolitan Bank in New York City enables us to issue debit Visa cards to our customers with 5 companion cards for family members. This allows them to send money from their digital wallet to debit Visa cards for free, giving them access to their money wherever Visa is accepted around the world, including ATM’s.
- In September, we announced the completion of the full integration of IPSIPay with key back-end payment processing infrastructure through our commercial partners. This major achievement allows IPSIPay users the ability to easily transfer money and make payments through the IPSIPay app throughout all 50 U.S. states (including our core market in California) as well as five continents for receipt at more than 215,000 payment locations.
- The upcoming addition of Druid Artificial Intelligence technology through a collaboration we announced in August will allow us to save money and better address customer service while making it easier to use our app with voice and retina recognition.
- Our collaboration with Walmart Health Virtual Care (formally known as MeMD),which we announced in October, is an example of a value-added product that allows our customers to have access to telemedicine via IPSIPay.
- Also, I am pleased to announce that we have initiated e-commerce collaborations that will grant IPSIPay users with access to providers like Best Buy and Groupon.
To drive our IPSIPay marketing strategy, in July IPSI entered into an agreement with the host of NBC’s award-winning Access Hollywood, producer, and actor Mario Lopez to become our global brand ambassador. As a son of immigrants, Mario shares our commitment to help the underbanked and underserved communities especially in his families native Mexico. National Positions, a Southern California award winning digital marketing company, launched our digital marketing campaign for IPSIPay. I am very proud to announce that our market penetration for IPSI has grown from 10,000 downloads and 1,200 active users in October to 34,000 downloads and 2,100 users at year end. We define an “active user” as a customer who downloads our app and processes at least one transaction via the app.
State of the Union for 2023 with Emerging Opportunities
We believe the money remittance business is changing after 50 years of an industry controlled by a very small number of large corporations. According to publicly available data from Statista, total global remittance payments are estimated to reach over $750 billion in 2023, and for the first time digital payments are estimated to exceed non-digital payments in 2023. We believe we are positioned to take advantage of this sea change with our applications while also emphasizing our humanitarian theme by focusing on the unbanked and underserved. Our ability to capture even a fraction of this massive global market represents our largest value proposition.
To capitalize on this opportunity, I can also announce that we are working with our technology partners on IPSIPay 2.0. This new and upgraded app with the latest technological advances should be released in the second quarter of this year. We also expect to announce during 2023 the addition of check capture, allowing IPSIPay users the ability to take a picture of their paycheck and have it immediately deposited into their IPSIPay wallet.
We are also creating an ecosystem that enables our business-to-business and business-to-consumer customers to move money, retain customers, and offer the cost savings, convenience and instant settlement that is associated with digital payments. In another new development, during the first quarter of 2023, we expect to file an application with the Government of Mexico for our Mexican MTO (money transmitting organization) which, if approved, will allow us to capture exchange rates, issue Visa and Mastercard debit cards and provide our services as an agent to companies in the U.S. looking to reach millions of customers in Mexico. Our Mexican MTO will also have the ability to move money in Mexico for Mexicans sending money to family and friends within the country. We believe our Mexican MTO will give us tremendous leverage in pricing our remittances to Mexico and better margins in sending money to Mexico.
Finally, to expand our offerings, in 2023 we plan on releasing Beyond Agro, a SAAS product which will allow agriculture companies to better manage their farms while saving money each week by paying their employees through our corporate wallet instead of the issuing costly checks to each employee. As a compliment to IPSIPay, this will allow agricultural company employees to send money home instantly instead of having the inconvenience and costs associated with cashing checks and traveling to a brick-and-mortar funds remitter.
We are also committed to exploring the use of the KYC and AML-focused technology at the core of our apps to be used in other verticals such as the large and growing mobile gaming industry.
I am proud of our accomplishments and look forward to continued execution on all fronts, and I look forward to providing updates on our continued progress.
On behalf of our Board of Directors and management team, we truly appreciate your support, and are looking forward to great things in 2023.
Chairman & Chief Executive Officer
About Innovative Payment Solutions, Inc.
Innovative Payment Solutions, Inc. (OTCQB:IPSI) is a cutting-edge provider of digital payment and other solutions for both business owners and consumers, focusing on the needs of the unbanked and underserved. 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 can acquire VISA debit cards, as well as obtain a bank account at a major U.S. institution, enabling them to execute financial transactions through IPSI’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. 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, the anticipated of the Company’s corporate initiatives on its future results of operations) 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 continue its commercialization efforts for the IPSIPay® App and related capabilities; (ii) the Company’s ability to increase its number of active users and generate revenue from such users on a continuing basis; (iii) the Company’s ability to operate its platform without errors; (iv) the Company’s ability to gain access to and operate its technology through third parties for use in all U.S. states and foreign countries; (v) the Company’s ability to generate revenue, positive cash flow or profitability; and (vi) 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.
Media and Investor Inquiries
Tel: (866) 477-4729
A Fond Farewell: Memories to Treasure from MWC 2024
HONG KONG, March 4, 2024 /PRNewswire/ — As IPLOOK reflects on its successful participation in MWC 2024, the company is left with countless memories, insights and opportunities that will continue to inspire its team long after the event has ended.
IPLOOK’s Impressive Showing
IPLOOK’s booth was a hub of activity throughout the 4-day event, drawing in crowds of attendees eager to learn more about IPLOOK’s innovative core network solutions. Some of the key achievements and gains for IPLOOK at MWC 2024 included:
Strong partnerships forged: IPLOOK nailed several new partnerships with leading telecom companies, expanding its reach and impact in the industry.Positive industry coverage: IPLOOK’s presence at MWC 24 attracted the attention of industry research outlets, resulting in conversations highlighting IPLOOK’s leading position in core network market, ability of innovation and integration capability of space, air and ground communications.Brand awareness increased: The event provided an excellent opportunity for IPLOOK to raise its profile and establish itself as a leader in the core network market. Its booth attracted a number of visitors who were already aware of its role as a core network expert, eager to explore the advancements presented by IPLOOK.Valuable feedback received: IPLOOK took the opportunity to gather feedback from attendees on its products and services, which will be invaluable in driving IPLOOK’s future product development and improvements.Innovations that Stole the Show
This year’s MWC, as per its theme “Future First”, was a testament to the power of technology to transform our future life. Attendees were treated to demonstrations of the latest innovation in AIGC, AI-RAN, Open Gateway, and 6G, showcasing how these technologies can revolutionize industries and improve people’s lives.
What’s Next for IPLOOK?
As IPLOOK sets its sights on the horizon, the company is energized by the prospect of deepening connections within the telecom ecosystem and discovering the groundbreaking advancements that lie ahead at MWC’s next chapter. With a steadfast dedication to product innovation, IPLOOK will also journey to key industry events like MVNOs World Congress and AfricaCom, forging new paths into uncharted markets and showcasing its unwavering commitment to the evolution of the telecom landscape.
Contact: [email protected] IPLOOK on LinkedIn @IPLOOK Networks
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Mobica Appoints Gary Butters as CEO, Building on Success and Fuelling Continued Growth
LONDON, March 4, 2024 /PRNewswire/ — Mobica, the global software and engineering provider, has announced Gary Butters as their Chief Executive Officer (CEO).
Gary joined Mobica as Chief Revenue Officer (CRO) in November 2020 and as part of outgoing CEO Sam Kingston’s leadership team, delivered significant success, leading to Mobica’s acquisition by Cognizant in March 2023.
This acquisition will significantly expand Cognizant’s IoT embedded software engineering capabilities as part of their overall strategy to help companies modernise technology, reimagine processes and transform experiences so they stay ahead in a fast-changing world.
Gary takes over the role with the remit to complete the integration of Mobica into Cognizant while continuing to deliver double-digit growth.
Mobica, which is headquartered in Manchester UK, with operations in Europe and the US, provides world-class software engineering and development expertise to many of the most recognised global brands. Founded in 2004, it serves a number of sectors, with particular expertise in the automotive, manufacturing, industrial and semiconductor industries.
In his role as CEO, Gary will continue Mobica’s vision of delivering exceptional value and innovation to it’s clients and customers, while spearheading its growth plan as demand for engineering and software expertise continues to rise.
Commenting on his appointment, Gary says:”Over the past few years, Mobica has seen demand for our world-class engineering increase significantly, particularly with the acceleration in AI and machine learning. This has seen some of the once ‘traditional’ industries such as automotive and manufacturing undergo a radical transformation.
“As a result, companies are increasingly seeking skilled professionals – particularly in areas such as software development, AI, IoT, and data analytics – in order to stay competitive and meet evolving customer expectations. However, they are vying for a limited pool of technology talent, so access to Mobica engineering services has been vital to enable our customers to remain agile in a rapidly evolving landscape.
“Our ongoing growth is a testament to our team of dedicated ‘Mobicans’ and our unwavering dedication to delivering cutting-edge software engineering solutions. We have consistently provided clients with access to top-tier engineering talent, enabling them to drive digital transformation and achieve their business objectives. I am looking forward to working with our talented team as we continue our ambitious growth plans.”
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Core to Cloud Partners with Cybersecurity Innovator SenseOn to Enable Comprehensive NDR and SIEM Security
New strategic arrangement allows organisations to monitor identity, endpoint, network and cloud-based activity to stop threats immediately.
CIRENCESTER, England, March 1, 2024 /PRNewswire/ — Core to Cloud, a leading provider of cybersecurity services and solutions, is excited to announce a strategic alliance with SenseOn, a renowned threat detection management platform. This collaboration will empower businesses to bolster their advanced NDR and SEIM operations and secure end-to-end platforms.
In today’s integrated digital landscape, businesses rely on various systems and third-party suppliers. The launch of SenseOn’s platform marks a significant leap forward in proactive threat detection and response, offering a comprehensive solution to combat sophisticated cyber threats. Organisations can identify, detect and respond to vulnerabilities in traditional blind spots. Core to Cloud’s partnership with SenseOn aims to address these challenges by offering a comprehensive and efficient solution for managing threat detection and response.
James Cunningham, CEO and co-founder of Core to Cloud, said: “We are excited to announce our partnership with SenseOn, allowing Core to Cloud to bring our clients a more robust and complete threat detection and management solution. With an ever-changing digital landscape, our clients must be able to detect and respond to any threats within their cyber estate. This partnership offers an all-encompassing approach to managing these risks.”
One of the critical features of this partnership is that the platform is built upon a foundation of Artificial Intelligence (AI) and Machine Learning (ML) technologies, meticulously designed to evolve alongside cyber threats. Leveraging its unique Deep Learning, SenseOn’s platform analyses vast and complex datasets, providing real-time threat detection, investigation, and autonomous response capabilities. This innovative approach and Core to Cloud’s cybersecurity expertise enables organisations to proactively address potential threats before they escalate, ensuring robust protection against evolving cyber-attacks.
SenseOn’s platform and Core to Cloud’s know-how empower security teams to navigate the complicated threat landscape efficiently. Intelligent automation streamlines incident response, allowing cybersecurity professionals to focus on strategic initiatives rather than routine tasks.
David Atkinson, CEO and Founder of SenseOn, added: “We are excited to announce a pivotal moment in SenseOn’s journey with establishing a strategic channel partnership with Core to Cloud. This collaboration is more than a partnership; it’s an alliance that leverages the strengths of both companies to propel us towards growth. By combining SenseOn’s consolidated threat detection platform with Core to Cloud’s technical and service expertise, we are poised to deliver a new standard in cybersecurity solutions.”
Moreover, Core to Cloud and SenseOn are committed to ongoing collaboration and continuous improvement. As cybersecurity threats evolve, so do the strategies and tools to counter them. This collaboration is not just a one-time solution; it represents an ongoing commitment to enhancing the cybersecurity landscape for businesses of all sizes. Core to Cloud and SenseOn will continue to work together to develop new features, refine existing tools, and provide unparalleled support to our clients.
Core to Cloud’s partnership with SenseOn signifies a major step forward in cybersecurity. By combining expertise, technology, and a shared commitment to excellence, the two companies are paving the way for businesses to navigate the complex digital landscape confidently. Together, they empower businesses to protect their NDR, SEIM and end-to-end platforms.
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