Innovative Payment Solutions, Inc. Announces Appointment of Clifford W. Henry and Madisson G. Corbett to Board of Directors

NORTHRIDGE, CA, May 03, 2021 (GLOBE NEWSWIRE) --  -- Innovative Payment Solutions, Inc. (OTCQB: IPSI) (“Innovative” or the “Company”), a Southern California based fintech company focused on building a 21st century universal digital payment platform, IPSIPay™, today announced the appointment of Clifford W. Henry and Madisson G. Corbett to the Company’s Board of Directors. Following the appointment of Mr. Henry and Ms. Corbett, Innovative’s Board will be comprised of 5 directors, 3 of whom are independent.

“We are pleased to welcome Cliff Henry and Madisson Corbett to our Board,” said James Fuller, Director of the Board. “Cliff’s experience in investment management and Madisson’s background working with successful fintech start-ups will be invaluable additions to our team. Moreover, as Innovative continues to grow and develop its digital payment platform, we believe these two new members will help us achieve our business strategy and provide sound insight for our Company.”

Mr. Henry is Chairman and CIO of CWH Associates, an investment management and consulting firm he founded in 1989. CWH is the owner and General Partner of Worthington Growth, LP, one of the earliest thematic focused, research-driven investment funds specializing in small and mid-cap companies.

In addition to his investment work, Mr. Henry has served a number of companies as a director or advisor. He is also involved extensively in pro bono work most recently as a Chairman of the Indian River (Florida) Cultural Council and was a founding Chairman of the Board of Trustees of the Clay Art Center in Port Chester New York.

Ms. Corbett has extensive experience in sales and built the sales development organizations at Series A-C tech companies. Ms. Corbett’s career in sales began in San Diego, overseeing global sales and marketing at the top surf wax company in the US. Ms. Corbett then worked at the International Surfing Association, recognized by the International Olympic, Committee and helped introduce surfing to the Olympics in 2020.

After her time in San Diego, Ms. Corbett began working for various Y Combinator companies including payroll & benefits platform, Gusto, hiring software, Lever, and mental health start up, Modern Health.

Presently, Ms. Corbett works for fintech start-up, Brex.com and has been with the company over the last two years. She built out the entire sales development organization from scratch and oversaw top of funnel production for the Go To Market Team at Brex.com.  Ms. Corbett managed the increase of reoccurring annual revenue from $20,000,000 to $100,000,000 in just 18 months and her team accounted for 85% of the net new revenue generated during the period.

About Innovative Payment Solutions, Inc.

Innovative Payment Solutions, Inc. (“Innovative”) strives to offer cutting edge digital payment solutions for consumers and service providers.  Innovative’s ecosystem will span multiple devices such as self-service kiosks, mobile applications and POS terminals offering alternative payment methods to meet the needs of consumers and service providers. ()

SAFE HARBOR STATEMENT

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate, “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” or “will” or the negative of these terms or other comparable terminology and include statements regarding the expected contribution of Mr. Henry and Ms. Corbett as the Company seeks to accelerate its business development and evolve. These forward-looking statements are based on expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectation include, among others, our ability to position the Company for future profitability, the duration and scope of the COVID-19 outbreak worldwide, including the impact to the economy in California and Mexico, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2020, and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

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