---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-051126"
form_type: "8-K"
ticker: "IPSI"
cik: "0001591913"
company_name: "Innovative Payment Solutions, Inc."
filed_at: "2023-06-23T23:59:59+00:00"
generated_at: "2026-06-13T18:02:38.268669+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Innovative Payment Solutions forms JV for payment processing, to contribute up to $1.5M

## Summary
- Entered LLC Operating Agreement for IPSIPay Express, LLC, with Open Path, Inc. and EfinityPay, LLC.
- IPSI to contribute cash up to $1.5M in three $500K tranches by Oct 31, 2023; initial $200K funded.
- IPSI will issue warrants to OP and EP to purchase up to 40M common shares at average closing price.
- Open Path and EfinityPay contribute technology and services; board has one manager from each member.
- Joint venture focuses on real-time bank-to-bank payments and credit card processing for gaming/entertainment.

## SEC filing metadata
- accession: 0001213900-23-051126
- form_type: 8-K
- ticker: IPSI
- cik: 0001591913
- company_name: Innovative Payment Solutions, Inc.
- filed_at: 2023-06-23T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1591913/000121390023051126/0001213900-23-051126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1591913/000121390023051126/ea177722-8k_innovative.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-051126
- JSON: https://secwatch.observer/filing/0001213900-23-051126.json
- Plain text: https://secwatch.observer/filing/0001213900-23-051126.txt

## Key facts
- Material Agreements
  Innovative Payment Solutions, Inc. entered into Limited Liability Company Operating Agreement with Open Path, Inc. and EfinityPay, LLC valued at up to $1,500,000 (effective 2023-04-28).
  - Action: entry
  - Counterparty: Open Path, Inc. and EfinityPay, LLC
  - Value: up to $1,500,000
  - Effective: 2023-04-28
  source text: On June 19, 2023, Innovative Payment Solutions, Inc. (the “ Company ”) entered into a Limited Liability Company Operating Agreement (the “ Agreement ”) with Open Path, Inc. (“ Open Path ”) and EfinityPay, LLC (“ EfinityPay ”, and the Company, collectively with Open Path and EfinityPay, the “ Members ”), to jointly provide for the governance of and rights of the Members with respect to IPSIPay Express, LLC, a Delaware liability company formed by the Members on April 28, 2023 (“ IPSIPay Express ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1591913/000121390023051126/0001213900-23-051126-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.