Psi Pay Makes Payments Easy

Kerv Wearables has partnered with Psi Pay to create a ceramic ring that offers contactless payments. Contactless payments are made with the use of a bank card, credit card, or with a smart card. Cashless payments or contactless payments were available for over ten years, but a few retailers only accepted these payments. Contactless payments have grown in popularity, and as of 2015, one-third of all payments made in Britain are contactless payments. The forms of contactless payments frequently used were debit and credit card transactions, as well as payments using smart cards.

However, Kerv Wearables partnership with Psi Pay is about to change the game. Kerv wearable recently funded the creation of a ceramic ring through crowdfunding. The ceramic ring is a contactless payment method. Customers paying with the ring can merely hold it 1.6 inches away from the payment terminal to conclude their transaction with Psi pay. The ceramic ring is available in 12 sizes and was created to withstand the wear and tear of everyday use. People who buy the ring do not have to worry that it will break or fracture.

Just as the method of payment is changing so is the way for carrying currency. When cash was the primary form of payment during transactions, it was carried in a purse or a wallet. Now, that currency is shifting from a physical medium to an electronic medium people are still using wallets to carry their digital currency. Electronic wallets are also known as e-wallets are used as a form of payment method.

There are currently two models of e-wallets: the American and the European. The American wallet is used to make online purchases. The American wallet is primarily a card-based transaction and holds no stored values in and of itself. Once a customer chooses an item for purchase the customer can use the wallet as a payment option and the purchase will clear using whatever deposit method that is attached to the wallet. If a debit, credit, or smart card was used to fund the e-wallet, it is easy for the transaction to be processed. The European model of an e-wallet is more complex an offers more payment alternatives and has more options to deposit or load funds. The European e-wallet functions more like a debit card attached to your bank account, according to PSI Pay. However, no credit is offered, and there are no overdrafts.

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Digital Wallets Vary by Country- PSI-Pay and EcoPayz Close the Gap

PSI-Pay, Making Finance Convenient and Fashionable

PSI-Pay is a company that’s revolutionizing the way people do business. The company is a principle of MasterCard and has been in business for over a decade. Recently, the company has introduced new technology that’s not only convenient, it’s wearable. Manufactured by Kerv Wearables, a new ceramic ring can act as your payment device when checking out. The devices have been produced in limited quantities.

Both companies used intelligent planning to make sure they’ve covered all their bases. The ceramic ring is stronger than most any metal, even titanium. It requires no battery, so even if your mobile phone is out of battery life, you’re still able to make a “contactless payment” with your MasterCard account. You simply hold the ring within an inch and a half from the payment processor, and any transaction under the threshold amount for the country you’re located in is automatically processed. It’s a convenient, quick, easy, and now even fashionable way to handle business. PSI-Pay is hopeful that this technology will become more prominent in the coming years.

Another topic that’s been on the financial radar lately is e-wallets. For those who are unfamiliar with this new technology, you’re not alone. PSI-Pay is happy to help simplify the “basics” that can help organize and even, simplify life for nearly anyone.

In a nutshell, e-wallets are a place to electronically and securely store payment information. Financial transactions are processed in real time in most cases. Store loyalty program card linking and storage are also a popular feature of e-wallets. While there are many similarities worldwide, the US and European e-wallets do have some minor differences.

The European e-wallets are both bank and non-bank owned and managed. There’s real-time processing of transactions, typically in your local currency. A major benefit of these e-wallets is that business between European countries can be simplified, and costs reduced by automatic currency conversions. Typically, no credit is extended through the accounts allowed with these processors. This protects both the customer and merchant from potential financial problems after the fact.

American e-wallets operate similarly, however, there is often an extension of credit when necessary. Although the US e-wallet model may seem more “liberal” than its European counterpart, there are many protections in place as well. Both European and US consumers have their typical credit card fraud protection. The US, however, makes it rather easy to dispute transactions should there be any issues. This can include mishaps involving false advertising, rip-offs, and many other instances. For more information, PSI-Pay makes even more information available online for merchants at their website at Check out all the new options available for your business, today!

While there are several similarities and differences, PSI-Pay and their technological advances are making life easier for everyone. Be sure to check out their products, today.