Innovative Payment Solutions, Inc. Appoints David Rios to the Board of the Company
July 28, 2021 at 04:39 pm EDT
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Innovative Payment Solutions, Inc. appointed David Rios to the Board of the company to serve until the company’s next annual meeting of shareholders. Mr. Rios is a currently a philanthropist. Prior to turning to philanthropy approximately ten years ago, Mr. Rios was the founder, Chairman, and Chief Executive Officer of D.F. Rios Construction, Inc., the largest framing construction company in the state of California, for over 30 years. Mr. Rios was also President of the California Framers Association and on the Board of Carpenters. Additionally, Mr. Rios sat on the Board of Pan Pacific Bank where he was instrumental in closing its acquisition by California Bank of Commerce in December 2015. There are no family relationships between Mr. Rios and any of the Company’s directors or executive officers and the Company has not entered into any transactions with Mr. Rios that are reportable pursuant to Item 404(a) of Regulation S-K. Mr. Rios will receive board fees of $2,500 per month effective July 1, 2021.
Innovative Payment Solutions, Inc. is a fintech provider of digital payment solutions and services to businesses and consumers, focusing on the needs of unbanked and underserved communities, particularly migrant communities in the United States. The Company is focused on operating and developing e-wallet mobile applications that enable consumers to deposit cash, convert it into a digital form, and remit the funds to Mexico and other countries quickly and securely. Its two e-wallet applications are IPSIPay and Beyond Wallet. Beyond Wallet is operational and is an institutional business-to-business product. The Companyâs IPSIPay App users can acquire VISA debit cards, as well as obtain a bank account at a major United States institution, enabling them to execute financial transactions through IPSIâs worldwide merchant network. The Companyâs IPSIPay Express provides merchants with a technology for payment processing that allows transactions, in real-time bank-to-bank account transfers.
INNOVATIVE PAYMENT SOLUTIONS, INC. 
