Innovative Payment Solutions, Inc. a fintech provider of digital payment and other solutions to both business owners and consumers, today announces that since the initiation of its new marketing campaign in August, IPSI has achieved 10,000 downloads of its flagship IPSIPay® App. Of the 10,000 downloads, 1,200 have been converted to active users with wallets, meaning the users have initiated at least one transaction via IPSIPay®.
These achievements are a demonstration of the initial results of IPSI’s previously announced marketing efforts for IPSIPay® targeting the unbanked and underserved migrant communities in the United States. Those efforts are anchored by IPSI’s endorsement collaboration with popular actor and television personality Mario Lopez.
William Corbett, IPSI’s Chairman and Chief Executive Officer, commented, “The initial achievements of our marketing campaign is a testament to the value that we believe we are providing to the unbanked and underserved with IPSIPay®. We are very pleased to have achieved the 10,000-download milestone in such a short period of time, and we are continuing to see strong growth of downloads and new active users, even as our marketing campaign is in its infancy and as revenue to IPSI from active users remains very small compared to our revenue potential.
He continues “We are confident that as we expand our marketing campaign and word-of-mouth begins to spread about the functionality and benefits of our IPSIPay® App we will see continued robust growth of the numbers of downloads and active users. Importantly, we believe our conversion rate of downloads to active users is in line with fintech industry norms. Of course, the goal of our efforts is to grow our active users, which in turn will generate revenue for us in the form of fees from money transfers and the use of debit cards as well as ATM fees.”
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