Psi pay: integrating digital payments.
Many people have not understood the function of a digital wallet. These wallets operate in the same way as the leather billfolds used traditionally.
The digital wallet has enhanced security by replacing the paperwork with a mobile device. The wallets that are digital will also provide a more convenient place for credit and loyalty cards.
With the growing use of cryptocurrencies, many people have switched to a digital wallet to access the cryptocurrency funds so that their usage can be for buying goods in shops and spending on restaurants.
A Fintech company, Psi pay, is fully regulated and controlled by the United Kingdom financial conduct authority. It has focused on the provision of services to both international and local students. They have also ensured a smooth transition by the consumers to digital banking.
Psi Pay has been fully authorized by the British authorities to issue E-funds (electronic funds) since 2011, and this has promoted their rapid growth in their business volumes by over 30%.
By integrating the European market in its plans, Psi pay has helped many customers through the use of contactless payments that allow less handling of the card by the waiter by providing an option of paying with a smartphone. The mode of contactless payment has gained more popularity, and hence the revenues of the company have soared high by a significant percent.
Through their partnership with Psi pay, KERV has provided wearable devices, for instance, the Zirconia ceramic ring that reduce the tiresome efforts of having to remember pins every time or carrying smartphones every time they have to make a transaction.
This partnership will be a massive boost for the company sales of the rings and the replacement of the sophisticated mobile wallet system.
The contactless devices will also help connect with the online and offline merchants who accept MasterCard payments. The payments by MasterCard will aid in deposits of bank and debit funds in their wallets. In-app purchases and online payments will also occur readily through the use of the payment rings.
Both Phil Davies, who is the psi pay managing director and Phil Campbell, the CEO of KERV were keen to commend their partnership. Davies cited the revolutionary change of payment applications and emphasized on their innovation and solutions the business will provide. Campbell also praised the move since it allows access control, convenience in the payments and data sharing.
The KERV payment ring has received various accolades, for instance, the Temenos innovation Jam and has been privileged to obtain a media coverage globally besides achieving its target on kick starter.