Half of all the purchases that are made in Britain are paid using a credit card. This is as reported by the British Retail Consortium. It is just the other day that PSI-Pay and Kerv Wearables announced that they realize the first contactless payment ring to the global market. That means that the cashless payment will continue to dominate the markets. The contactless payment is one that uses debit, credit, and smart cards for payment of purchases of goods and services. PSI-Pay one of such provider of the contactless payment and Kerv its affiliate which offers a proprietary ring that is designed to stay for a long time and comfort purposes. The payment method is made more secure by the use of the Near Field Communication (NFC) technology. All that the consumer I needed to do is to tap his ring or card to a sales time where the payment is allowed. The contactless technology is however limited to ensure that the customer is protected against nonpermitted transactions as the process does not require a PIN or a signature. The maximum amount that each transaction should reach differs by county and banks.
Globally known for its secure online digital account (ecoPayz), PSI-Pay is one of the Fintech firms that are authorized and regulated by the Financial Conduct Authority (FCA) of Britain. The company provides fast, private and secure means of making payments all over the world for both businesses and individuals. PSI-Pay has a lot of staff who have widespread knowledge in alternative banking and has been offering these services since the year 2007. The company is authorized under the EU electronic money regulations of 2011 to offer electronic money services. PSI-Pay prides itself on being able to provide electronic money all over the European Union, and their prepaid accounts are usable in around one hundred and seventy countries across the globe. The firm is a principal member of MasterCard and offers services such as corporate expense management and remote payment schemes to its members. The PSI Pay MasterCard services are offered directly all over the European Union countries for over ten years.