Innovative Payment Solutions, Inc. (OTC: IPSI) reported that its wholly owned subsidiary, Astria Insurance Solutions Inc. (AIS), has generated its first revenue under a Marketing & Services Agreement. The milestone follows the launch of AIS’s insurance marketing platform in March and represents the first SaaS revenue for the company, expected to be deposited into AIS’s account during the first week of April.
The achievement is significant for IPSI, which has historically reported no operating income and has seen losses increase over the past five years. AIS’s first revenue marks the beginning of IPSI’s monetization strategy in the insurance sector and provides a new, recurring revenue stream that could help the company move toward profitability.
In addition to the revenue announcement, IPSI named Jackie Martine as Vice President of Payment Solutions Products. Martine brings more than two decades of experience, including a six‑year tenure at Worldpay, and will lead the company’s payment product strategy across its expanding ecosystem of financial services. Her appointment signals IPSI’s commitment to strengthening its payments capabilities and supporting the growth of AIS’s platform.
Bill Corbett, CEO of IPSI, said, “We moved from formation to launch, and now to revenue. This is not theoretical anymore we are generating sales. Our focus now is scaling volume, expanding licensing, and accelerating growth across the platform.” The comment underscores the company’s shift from development to revenue generation and its intent to scale the new insurance‑payments integration.
The first revenue from AIS is a milestone that could alter IPSI’s financial trajectory, but the company has yet to disclose the exact amount of the transaction or its projected contribution to overall earnings. Nonetheless, the event signals a strategic pivot toward a diversified revenue mix and a potential path to sustainable profitability.
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