Innovative Payment Solutions, Inc.

The Company provides digital payment solutions and services to businesses and consumers. It operates as a fintech provider of digital payment solutions, currently focused on exploiting underserved markets and offering sophisticated credit card processing services through its participation in joint ventures. The Company has previously operated, and may in the future develop, "e-wallets" that allow consumers to deposit cash, convert it to digital form, and send funds quickly and securely. On April 28, 2023, the Company formed IPSIPay Express, a Delaware limited liability company. This entity is a joint venture with OpenPath, Inc. and EfinityPay, LLC, established to develop and market a proprietary consumer-to-merchant real-time payment platform. This platform initially targets the online gaming and entertainment sectors. On June 19, 2023, the Company, OpenPath, and EfinityPay entered into a Limited Liability Company Operating Agreement, effective April 28, 2023, to govern IPSIPay Express and define the members' rights. IPSIPay Express's initial business purposes include providing credit card processing solutions and a proprietary solution for real-time bank-to-bank payment transactions, collectively referred to as "IPEX." These solutions aim to offer seamless consumer and merchant experiences, with an initial focus on merchants in the gaming and entertainment sectors. The Company agreed to contribute up to $1,500,000 to IPSIPay Express for the IPEX business, to be made in three tranches of $500,000 each, or lesser amounts as unanimously approved by the Board of Managers of IPSIPay Express.