Innovative Payment Solutions, Inc. Adds Lawrence P. Cummins to Advisory Board

NORTHRIDGE, Calif., Dec. 03, 2020 (GLOBE NEWSWIRE) -- via InvestorWire -- . (“Innovative” or the “Company”) (OTCQB: IPSI), a U.S.-based fintech company focused on building 21st century digital payment solutions, announces the addition of a blockchain expert, the CEO of Black Cactus Global, Inc (OTC: BLGI), Lawrence P. Cummins to the Company's advisory board. Mr. Cummins has extensive knowledge and experience in data science, machine learning, cloud computing, and blockchain integration.

“Lawrence Cummins will be a valuable addition to our advisory board. He will provide strategic advisory expertise to guide our plan to develop, deploy, evaluate and implement blockchain technology, expand our distribution ecosystem and coordinate analytical marketing data through our provision of comprehensive financial solutions to unbanked, underbanked and fully banked consumers,” said Innovative Payment Solutions, Inc. CEO William Corbett. “In addition, he will bring a unique business perspective to help us further protect the security of data and financial transactions. We are delighted to welcome Lawrence to our advisory board, and I look forward to working with him.”

“Innovative has built an effective payment rail and a unique business model,” stated Mr. Cummins, CEO of BLGI. “I am pleased to be joining the advisory board and contributing my knowledge and expertise to help the Company meet its goals to bring state-of-the-art solutions designed for a disruptive and exciting marketplace. I have been working in decentralized payment technologies for four years now and I believe it’s the future. I am looking forward to working together.”

Mr. Cummins is currently a chairman and CEO of Black Cactus Global, Inc. The data science company is focused on developing solutions across various industries and institutions and developing cutting-edge technology utilizing machine learning, cloud computing and blockchain integration. Lawrence has a wealth of experience in these areas with expertise in big data analytics and predictive analysis. With over 30 years of experience as a software engineer and software architect working on computer-aided engineering product development and applications, he is designing and developing trading platforms and exchanges for asset management for stock markets, Forex and cryptocurrency.

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. Cummins 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 develop, deploy, evaluate and implement blockchain technology, expand our distribution ecosystem, coordinate analytical marketing data through our provision of financial solutions to unbanked, underbanked and fully banked consumers, 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 December 31, 2019 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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