Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 945

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 945
---
 our participation in IPSIPay Express, developing a new account-to-account
payment application called Instant Settlement in RealTime as well as traditional credit card processing services. We have in the past
(under the name IPSIPay) and may in the future develop and operate “e-wallets” that enable consumers to deposit cash, convert
it into a digital form and remit funds quickly and securely.

23

Known Trends, Demands,
Commitments, Events or Uncertainties Impacting Our Business

Development of
IPSIPay Express

Our principal business
as of the date of this Report consists of our participation in the IPSIPay Express joint venture. Since May 2023, we have been working
with our joint venture partners OpenPath and EfinityPay to establish the necessary elements to commercially launch IPEX. This remains
our top business priority. As described in Item 1. Business, we have been responsible for certain key aspects of establishing and launching
IPEX. We will continue these efforts during 2025, and our results of operations for 2024 should be viewed in light of our work on IPEX.
No assurances can be given that we will be able to launch IPEX with our joint venture partners or that IPSIPay Express will generate
revenues for us.

Inflation

Macro-economic conditions
could affect consumer spending adversely and consequently our future operations when we fully launch our e-wallet products commercially.
The U.S. has entered a period of significant inflation, and this may impact consumer’s desire to adopt our products and services
and may increase our costs overall. However, as of the date of this report, we do not expect there to be any material impact on our liquidity
as forecast in our business plan due to recent inflationary concerns in the U.S.

Foreign Exchange
Risks

We intend to operate
in several foreign countries. Changes and fluctuations in the foreign exchange rate between the US Dollar and other foreign currencies
may in future have an effect our results of operations.

Results of Operations
for the years Ended December 31, 2024 and December 31, 2023

Net revenue

We had revenue of $0
and $410 for the years ended December 31, 2024 and 2023, respectively. We pivoted to focus our attention on the IPSIPay Express joint
venture, where we expect to generate initial revenues during the 2025 fiscal year, dependent on product testing, which is currently underway,