Innovative Payment Solutions Inc (OTCMKTS:IPSI) Stock Gains 28% In a Week: Here is Why

Innovative Payment Solutions Inc (OTCMKTS:IPSI) is a financial technology provider of proprietary digital payment platform which help with transferring money through fast, affordable and secure systems. Yesterday, the company announced that it had gone into a new line of business known as IPSIPay Express.

Trading Data     

On Monday, IPSI stock increased 3.41% to $0.0091 with more than 628.35K shares, compared to volume of 515.27K shares. The stock moved within a range of $0.0086 – 0.0095 after opening trade at $0.0088.

Innovative Payment Solutions Announces IPSIPay Express™, a New Business Line to Broaden IPSI’s Digital Payments Services Into the Fast-Growing Online Gaming and Entertainment Sectors

The new business is a proprietary joint venture with two other established entities in the payments industry, eFinityPay and OpenPath. The latest business is going to be involved with the development and marketing of a proprietary platform meant for enabling consumer to merchant real time payments. Initially, the business is going to be focussed on the entertainment and online gaming spaces, which are both growing at a remarkable rate.

IPSIPay Express would provide the merchants with a form of payment technology which would allow them to receive payments securely, seamlessly and quickly in bank to bank transactions in real time. Additionally, the cost of the service is also going to be less than what is charged by existing debit and credit card processors. The platform would also work towards the reduction of friendly frauds which often lead to losses for many businesses and result in lower chargebacks from customers.