PSI-Pay has come up with new modes of payment, and therefore payment solutions have increased. PSI-Pay is an online banking company whose its roles is to specialize in credit and debit cards services. This company was incorporated back in the year 2007 and it has collaborated with Kerv Wearables and Fintech in introducing to customers worldwide the Mastercard payment method.
The time is changing as our lives is becoming compressed and how we interact with people around the world is changing as well. The new emerging trends and issues also change our ways of communication. For instance, the smartphone technology has streamlined more communication services and has introduced programs, wallets, books, computers, and cameras.
The advancement in technology has helped PSI Pay to introduce cashless pay method and some payment devices including PSI Pay supported will become the method of payment in the near future. The reasons for that are outlined below.
— PSI-Pay (@PSIPayLtd) August 24, 2015
- According to a survey that was conducted by Mastercard Uk, Britons is now carrying less money in their pockets as compared to what they used to carry a few decades ago.
- The methods of cashless payment are The same studies showed that a trend of going in the way of cashless is dramatically increasing with many people confirming to be carrying less cash as compared to five years ago.
- Another concern is security matters, with theft cases increasing each day and therefore people around the globe are embracing online It the only secure way.
- There is also a lot of payment processing problems that have affected the ancient banking system. For instance, in the year 2003 RBS faces a serious banking failure which left thousands of its clients Furthermore, in the year 2015, NatWest clients were locked and could not access automated banking services.
All these advancement and developments have led people to seriously debate and to raise concerns on reliance on the traditional banking system and the increasing payment and banking solutions.
In conclusion, the cashless way of payment is the best because it is accepted all over the world. The idea that this form of payment is regulated by FCA gives customers confidence and trust in it. Its transaction is very low and it is a secure way of doing transactions worldwide.