Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 185

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 185
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 growth depends on our ability to compete effectively with both traditional and non-traditional
payment service providers. We currently expect to face competition from a variety of financial and non-financial business groups which
include retail banks, non-traditional payment service providers which provide mobile top-up services, and mobile network operators, traditional
kiosk and terminal operators, electronic payment system operators, as well as other companies that provide various forms of payment services,
including electronic payment and payment processing services. Competitors in our industry seek to differentiate themselves by features
and functionalities such as speed, convenience, network size, accessibility, hours of operation, reliability and price. A significant
number of these competitors have greater financial, technological and marketing resources than we have, and operate robust networks and
are highly regarded by consumers.

There is uncertainty
as to market acceptance of our technology, products and services.

We have conducted our
own research into the markets for our technology, products and services; however, because we are a new entrant into the market, there
is a risk that the market will not accept our technology, products and services. Further, we have limited information on which to estimate
our anticipated level of sales. Our products and services require consumers and service providers to adopt our technology. Our industry
is susceptible to rapid technological developments and there can be no assurance that we will be able to match any new technological
advances. If we are unable to match the technological changes in the needs of our customers, the demand for our products will be reduced
and our ability to generate revenue could be adversely impacted.

We are dependent
on technology networks and systems to process, transmit and securely store electronic information and we could be subject to liability
if our technology systems fail to be secure.

We could be held liable
for damages or our reputation could suffer from security breaches or disclosure of confidential information or personal data. Through
Frictionless and other service providers, we are dependent on technology networks and systems to process, transmit and securely store
electronic information with our partners and with our customers. Security breaches of this infrastructure could lead to shutdowns or
disruptions of our systems and potential loss or unauthorized disclosure of confidential information or data, including personal data.
The theft and/or unauthorized use or publication of our, or our customers’, confidential information or other proprietary business
information as a result of such an incident could adversely affect our competitive position and reduce marketplace acceptance of our
services. Any failure in the networks or computer systems used by us or our customers could