PSI-Pay is hastening the arrival of the cashless society with their contactless payment methods. A growing number of consumers now prefer to use cards or their phones to pay for their purchases. In the United Kingdom about half of consumers pay for small purchases using contactless payment options. And Sweden may soon become a cashless society, making them the first country to do so. PSI-Pay has collaborated with Kerv Wearables to make contactless payment even more convenient by developing the contactless payment ring. It eliminates the need to swipe or sign. Consumers simply tap it on the point-of-sale terminal and go.
The rings are the latest salvo in the ‘wave and pay‘ revolution. These new contactless payment methods are fast, convenient and secure. The PSI-Pay rings are comfortable, durable, water and scratch resistant, can be turned off and on and come in 12 sizes for men and women. They eliminate the need to count change or put in your PIN number. Users simply tap and go. PSI-Pay uses proprietary technology in its ring and the transactions are kept secure through RFID technology. Contactless payments has been embraced by the over 60 crowd and the Church of England is testing it in 40 churches.
A United Kingdom based financial technology company that has been around since 2007, PSI-Pay is licensed and regulated by the Financial Control Authority of the British government. The company provides digital accounts and contactless payment options like smartcards, credit cards, debit cards, and now payment rings, to consumers throughout the UK and in 170 countries around the globe. And the contactless payment rings are growing in popularity. The staff at PSI-Pay have extensive alternative banking experience and the company is known for its transparency, efficiency and clarity.
In addition to PSI-Pay and Kerv, a number of other companies offer contactless payment options. They include Andriod Pay, Apple Pay, Google Wallet and EcoPayz. And demand is growing. Last year in the United Kingdom customers got more than 108 million contactless payment cards, according to the UK Cards Association. A MasterCard Principle Member for almost 10 years, PSI-Pay has been providing MasterCard services throughout the EU and worldwide to individuals and organizations. This includes contactless PayPass programs, debit and prepaid cards and virtual cards for use in small on-the-go payments.
The wearable payment ring devised by PSI-Pay and Kerv is now the latest in convenient, flexible contactless payment technologies.