Technology has helped in ease of how we get paid and how we make payments. PSI Pay, UK’s leading FCA regulated payment solutions provider for both individuals and corporate payments globally, has now made paying more effortless with the world’s first contactless payment ring. This revolutionary device was possible through the partnership with Kerv, UK’s innovators in the alternative payments industry.
Teaming up with Kerv’s first contactless payment ring, the next-generation wearable payment devices, PSI Pay utilized there Mastercard International license and 38 million worldwide locations providing customers to make a payment anywhere in the world that accepts standard contactless credit, debit and prepaid Mastercard payments.
Along with the prepaid cards, debit cards and contactless programs, PSI Pay supports these additional products:
• Travel Prepaid MasterCard cards
• General Purpose Reloadable Prepaid MasterCard cards
• Consumer or Corporate Gift and Incentive cards
• Business Prepaid (including purchasing, payroll, T&E) MasterCard Cards
• Government Prepaid Solutions
• Virtual Programs
— PSI-Pay (@PSIPayLtd) June 6, 2016
According to Phil Davies, PSI Pay Managing Director, he believes that Kerv is a company that is among the most ingenious, dynamic, favorable solution and when his company was selected to work with Kerv, he considered it a pleasure, joyful, and happy to be part of this successful venture. And in 2015, the year this partnership took place. PSI experienced there best financial year. In 2015, PSI Pay business volume increased by 29%, their income revenue increased by 45%, and pretax profit was up by 5.5%.
How does this contactless payment work and is it safe? Fast and safe because it does not use a PIN and used where the wave display is available. It provides layers of protection including each transaction has its specific encryption data, you maintain possession of your device always and an added safeguard in place to only bill once if accidentally tapped multiple times. Also, each transaction is protected by the Mastercard Liability Protection, providing one of the most secure ways to make payments.
PSI Pay has set the bar and created a device that blends seamlessly into the fabric of our society and continues to evolve the Payment Industry.