The payments industry has been transforming in the past few years, especially with the advent of the internet and online payments. The use of cash has been decreasing drastically in the past few years and most of the countries globally, cashless payments are encouraged. A sizeable portion of the annual transactions done across the globe is done through cars and online payments. Taking the payments industry forward is PSI Pay that is one of the pioneering companies involved with taking forward the technology of contactless payments.
The companies are trying their best to provide the smartest way to shop and transact to the customers and PSI Pay is the company that is developing technology to facilitate it. PSI-Pay along with its affiliate company named Kerv Wearables is developing a smart ring that would make the entire process of payment contactless. It is for this reason PSI Pay is known as the pioneers in the field of contactless payments. More and more companies are trying to adapt to the technology of contactless payments. Gone are the days when you have to dig into your purse every time you need to purchase anything as you can wave and pay with your smart ring.
— PSI-Pay (@PSIPayLtd) February 10, 2016
The Kerv Wearable rings are designed to pay with ease and comes in twelve different sizes. PSI Pay is making all the efforts and investments necessary to take contactless payments industry to new heights. The contactless payments made through the smart rings or wearable technology uses NFC or RFID that also helps in making the entire contactless method secure. There are ongoing researches taking place to make contactless payments more secure and widespread across the globe. As the majority of the world population is using credit and debits cards to pay for goods and services, it is also apt for contactless payments to be the next big thing in the payments industry.
In the United Kingdom, over 108 million contactless payments took place last year, and the figure is going to increase in the next few years drastically. It is because more and more people are adopting the new market trends and shifting towards the contactless payments. PSI Pay started its operations in the year 2007, and in a concise period, the company has become a market leader in the alternative payment solutions. More and more companies are reaching out to PSI Pay for providing customized payments solutions that would ease their workload as well as improve efficiency and transparency.