Innovative Payment Solutions, Inc (the “Company” or “Innovative”), (OTCQB: IPSI), a U.S.-based fintech company building 21st century digital payment solutions, announced today the launch of a joint venture with blockchain and artificial intelligence company BLGI, Inc. (OTCQB: “BLGI”) to help expand the Company into global digital payment infrastructures.
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The joint venture will ultimately advance the companies’ mutual efforts towards unlocking blockchain technology for swift funds processing, ensuring simplicity of payment for services at a substantially reduced cost for consumers and secure network to transfer funds anywhere in the world. The companies intend to join forces and facilitate the expertise of each in order to enhance and develop a one-of-a-kind digital payment solution that meets the needs of unbanked and underbanked communities throughout the U.S. and worldwide.
Innovative brings to the joint venture its extensive prior experience of operations in Mexico and is building a fintech ecosystem that uses multiple devices in order to help meet the needs of both consumers and service providers.
“Our agreement with BLGI provides our companies with a tremendous opportunity to develop, evaluate and implement a blockchain technology that will expand our distribution ecosystem and coordinate analytical marketing data through our provision of comprehensive financial solutions to unbanked, underbanked and fully banked consumers,” said Innovative Payment Solutions, Inc. CEO William Corbett. “In addition, Lawrence P. Cummins, current chairman and CEO of BLGI, has recently joined our advisory board to provide his vision and insight to our ongoing business development.”
“Innovative has built an effective payment rail and a unique business model,” stated Cummins. “I envision a great opportunity in this joint collaboration and am looking forward to fast-track Innovative into the market and enhance its product proposition.”
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