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 http://psi-pay.co.uk/. 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.