Innovative Payment Solutions (OTCQB: IPSI), a U.S.-based company focused on building a 21st-century digital-payment technology service business, on Wednesday announced plans to expand development of its proprietary fintech platform. The platform leverages Innovative’s extensive experience from the five years of its operations in Mexico, amassing over 2 million local customers. Per the update, Innovative has retained Horizons Law and Consulting Group to advise Innovative on the creation of its own stable coin (“IPSI Coin”) by providing the necessary legal and regulatory support to navigate evolving regulatory and legislative compliance requirements. “The fintech industry is undergoing a massive shift with the introduction of artificial intelligence, ever-changing distribution models, fee diversion and digital payments. We believe there will be an exponential growth in demand in the $38 billion-a-year remittance business to Mexico from the U.S.,” Innovative CEO William Corbett said in the press release. “In addition, it was recently reported that payments in the first eight months of 2020 ballooned to $26.4 billion, up 9.4% compared with the same period last year. We are focused on providing a comprehensive solution in the digital payment arena for those who need it most. Our goal is to provide the millions of unbanked and underbanked, as well as banked consumers in California, a cost-efficient and convenient method to make payments and remittances with instant settlement.”
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About Innovative Payment Solutions Inc.
Innovative Payment Solutions strives to offer cutting-edge digital payment solutions for consumers and service providers. Innovative’s ecosystem will span multiple devices such as self-service kiosks, mobile applications and point-of-sale (“POS”) terminals offering alternative payment methods to meet the needs of consumers and service providers. For more information, visit www.InnovatePaySolve.com.
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