back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Innovative Payment Solutions launches IPSIPay App

By Edlyn Cardoza

February 01, 2022

  • California
  • Digital Payments
  • Digital Wallet
Share

Innovative Payment Solutions, California, USA, FinTech, Digital Payment, IPSIPay, IPSIPay App, Mexico, Digital Wallet, VISA, Remittance PaymentsInnovative Payment Solutions, Inc., a California-based FinTech company focused on building a 21st-century universal digital payment platform, IPSIPay, recently announced the official launch of its IPSIPay App.

The launch of the IPSIPay App represents a significant step in the Company’s strategy to establish a dominant foothold in the biggest remittance markets worldwide. The Company’s IPSIPay App provides a cost-effective way for users to remit money to Mexico. According to wral.com, it is the third-largest remittance recipient globally and represents over $50 billion annual remittances. In addition to its functionality to send and receive funds, the IPSIPay App also acts as a digital wallet, enabling users to perform many banking related functions, including using a VISA debit card to execute financial transactions. The App also allows users to invest in cryptocurrencies, gold, and silver.

William Corbett, CEO of Innovative Payment Solutions, Inc., commented, “The official launch of our IPSIPay App is an important milestone for the Company as we have now entered the $50 billion remittance market. In addition to Mexico, we are also targeting India and the Philippines, representing three of the top four remittance recipients in the world. Our new App, in addition to the ability to make remittance payments, provides various other valuable services for the unbanked and underbanked, offering a low-cost solution that enables them to have access to many digital payment services conducted through their phone. Relative to alternatives in the marketplace, our IPSIPay App provides remittance and bank-like services at a discount, providing a viable alternative with lower costs and greater functionality. The lower costs associated with our App are aligned with the United Nations’ current mandate to reduce remittance costs, whose objectives are to help migrant workers around the world.”

Corbett further added, “Throughout the development of our IPSIPay App, we have expanded its capabilities to include the ability to transact in certain cryptocurrencies as well as certain precious metals. The seamless integration of different contemporary fintech offerings into our IPSIPay App provides our customers a functional and easily accessible, user-friendly product, available to the unbanked and underbanked. Never before have the unbanked and underserved been able to send money to Mexico cheaper, faster, secure and more convenient than with our new IPSIPay App. Users can use the App to send wallet to wallet transactions and load money to VISA Debit cards, enabling customers to access funds through ATMs as well the hundreds of thousands of businesses that accept VISA throughout Mexico. Sending money with the App is free to both the sender and the recipient, making it a cost-effective solution for a population of people that generally have limited access to banking services.”

“As previously announced, we recently engaged Response Media to execute a digital marketing campaign and maximize the awareness of our new platform. We are confident that, as prospective users better understand the capabilities and the attractive price point of our IPSIPay App, we will see a strong uptake in the number of active users,” concluded Corbett.

Previous Article

February 01, 2022

Komerční banka goes live on Temenos core to power the digital future

Read More
Next Article

February 01, 2022

SumUp and PrestaShop partner to empower businesses selling online

Read More










IBSi Daily News Analysis

wealth management

August 16, 2022

California

Self-employed struggle to access financial services. What can FinTech do?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

6 significant FinTech companies based in Romania

Read More

Today

Abrigo acquires BankLabs’ Construct and +Pay technologies to expand its lending automation

Read More

Today

Careem announces partnership with Bank Albilad

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022