Contactless payments and general banking is the new trend in the banking industry. It is exciting that people can now be able to access their banking accounts without having to give their signatures or even swipe their ATM cards. Its convenient for both the banks and the customers as they can carry out more transactions. PSI-Pay is one company which has appreciated this trend and is championing its implementation.
The company recently teamed up with their affiliate Kerv Wearables. The two are planning on teaming up to ensure that they make it convenient for people to make contactless payments. This is a decision they arrived at after there was the release of findings that payments using cards have overtaken the use of notes and coins in the UK.
PSI-Pay recently made an innovation in the field of contactless payments. They called them the proprietary rings. This is an actual ring that has been designed to suit the needs and taste of the customers. they have been made with unique features such as being able to withstand water. These rings are using the Near-Field-Communication (NFC) technology to aid them when making payments. These rings just need to be tapped onto a point of sale machine for the seller, and the payment will be made consequently.
The most significant features of the contactless ring that are coming up are the features that enable their use internationally. The contactless paying can be used across international boundaries. Currently, there are about 38 million locations which are accredited. The users of these cards can be able to make payments in all these locations.
PSI-Pay makes it possible for the users of these rings to make top-ups using means such as the PayPal. This means that this company makes it possible for the forex rates to be avoided when the rings are being used in any of these accredited locations.
The trend of there being in-app purchases is also constantly growing. The technology being provided by the company makes it possible for the users of their services to make payments using virtual cards which have been given to them. At this rate, this company in conjunction with other companies dealing with technology will be very capable of revolutionizing the way money circulates across international boundaries.