Innovative Payment Solutions, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:06 pm EST
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Innovative Payment Solutions, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported negative sales was USD 0.000028 million. Net loss was USD 1.02 million compared to USD 3.3 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.26 a year ago. Basic loss per share was USD 0.08 compared to USD 0.26 a year ago.
For the nine months, sales was USD 0.00041 million. Net loss was USD 4.46 million compared to USD 6.18 million a year ago. Basic loss per share from continuing operations was USD 0.31 compared to USD 0.5 a year ago. Basic loss per share was USD 0.35 compared to USD 0.5 a year ago.
Innovative Payment Solutions, Inc. is a fintech provider of digital payment solutions and services to businesses and consumers, focusing on the needs of unbanked and underserved communities, particularly migrant communities in the United States. The Company is focused on operating and developing e-wallet mobile applications that enable consumers to deposit cash, convert it into a digital form, and remit the funds to Mexico and other countries quickly and securely. Its two e-wallet applications are IPSIPay and Beyond Wallet. Beyond Wallet is operational and is an institutional business-to-business product. The Companyâs IPSIPay App users can acquire VISA debit cards, as well as obtain a bank account at a major United States institution, enabling them to execute financial transactions through IPSIâs worldwide merchant network. The Companyâs IPSIPay Express provides merchants with a technology for payment processing that allows transactions, in real-time bank-to-bank account transfers.
INNOVATIVE PAYMENT SOLUTIONS, INC. 
