Innovative Payment Solutions, Inc. Adds Robert G. Pedersen II to Advisory Board

Northridge, California, Nov. 17, 2020 (GLOBE NEWSWIRE) -- via -- . (“Innovative” or the “Company”) (OTCQB: IPSI), a US-based fintech company, focused on building 21st Century digital payment solutions, announced that a veteran business leader Robert G. Pedersen II has joined the Company's Advisory Board. Mr. Pedersen has extensive experience in operations, marketing, and financial management.

“I have known Robert for many years.  It was a privilege to work with him on taking ZAGG public and helping to raise the requisite capital needed at that time. Robert is the best executing CEO I have ever seen. He has acute business development expertise,” said Innovative Payment Solutions, Inc. CEO William Corbett. “His talent, integrity, and experience should be invaluable to our company as we seek to accelerate our business development and continue to evolve. We are delighted to have Mr. Pedersen on our Advisory Board and I look forward to working closely with him again.”

Mr. Pedersen is currently an executive with privately held Cariloha, LLC (sister company of Del Sol), a retailer chain with more than 50 store locations worldwide. Prior to Cariloha, Mr. Pedersen was co-founder, CEO and Chairman of , a mobile consumer electronics company. Under Mr. Pedersen’s leadership ZAGG flourished, and in less than 8 years the company went from a start-up, to generating over $265 million in annual revenue. Additionally, he took ZAGG from OTC markets to the Russell 2000 Index, and then up-listed on NASDAQ.

“The financial industry is going through a major overhaul and introducing new technologies and services to consumers and businesses worldwide. Innovative has developed a unique Fintech business model that encompasses various segments and opportunities to the unbanked and underbanked consumers,” said Mr. Pedersen. “The COVID-19 outbreak has negatively impacted many consumers and small businesses, and I envision that the Innovative platform and blockchain technology will be able to meaningfully simplify financial service transactions for people. It is great to reconnect with Bill, as he did an outstanding job in helping ZAGG during its critical time of going public, and I look forward to assisting Innovative Payment Solutions with their growth strategy.”

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 statement of historical fact contained in this press release are forward-looking statements. In some case, 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 or the negative of these terms or other comparable terminology and include statements regarding the expected contribution of  Mr. Pedersen 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 leverage the talent, integrity, and experience of Mr. Pedersen to accelerate our business development and continue to evolve, 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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