The beauty of technology is that it has no limits or borders and every day a new invention and innovation is on the blink. Today cashless payments account for more than half of all purchases made in the UK. A staggering number of people in the UK use credit cards to settle all their bills and only carry some cash in their wallets for unplanned emergencies. As a result, many Fintech companies in the UK and across the world have zeroed their efforts on finding ways to improve cashless payments. PSI-Pay, a leading Fintech Company in the UK, which provides payment card facilities and digital accounting, is at the forefront of improving cashless payments. Consequently, the company has teamed up with Kerv Wearables to come up with a revolutionary contactless payment ring.
Kerv Wearables is among the leading innovators in the payment industry, and are focused on alternative methods of payment. For the last decade that contactless payment has existed in the market, a third of all payments and purchases made in the UK have followed this method. Contactless payment employs the use of smart cards, credit and debit cards as the mode of payment.
PSI-Pay has been a leading partner in this trend and their new innovative payment ring has been tipped to be the next big trend in the industry. Kerv Wearables, which is an affiliate company of PSI-Pay has maintained a legacy of designing the most durable and comfortable rings. Their new contactless payment ring is designed to endure harsh conditions such as scratches and damages and is also water resistant. Additionally, the ring is suitable for all genders because of its well-fashioned design. It also caters for all sizes, having twelve sizes to choose from. The ring also utilizes, Near Field Communication (NFC) making customer transactions secure and easy to use. By one tap of the ring to a PoS (Point-of-sale) terminal, one makes a payment.
Customers who use contactless payments are more advantaged because it is faster and easier to make payments using this system. It eliminates the inconveniences of having count large and small amounts of cash and waiting for your credit card to be validated. This is because, by a single touch of the contactless ring against PoS, the transaction will be completed in a matter of seconds. Phil Campbell founder of Kerv says that the rings can also be used for data storage and sharing.
More about PSI-Pay
The company has been operational for the last eleven years and has consistently come up with innovative payment formulas for businesses across the world. PSI-Pay has a philosophy of transparency, clarity and efficient means of conducting business. The company has firmly established itself as the global leader in banking and alternative methods of payment.