Kerv and PSI-Pay Partner to Launch a New Mode of Contactless Payment

Kerv and PSI-Pay Partner to Launch a New Mode of Contactless Payment

 

In most parts of the world, people have left behind the use of cash payments for the use of credits cards, online accounts and other payment solutions that do not involve the use of cash money. The reason for this evolution is the fact that cash payments have become very risky recently. Goods and services are more expensive than they used to be and human beings are developing more needs by the day. Therefore, if we had to walk around with cash, then it would be very huge amounts of money. With this, there is a risk of loss and even the risk of theft. That is why modern payment solutions have been adapted especially in the first and second world countries. Companies like PSI-Pay have made this possible.

 

About PSI-Pay

 

Psi-Pay is a company that provides payment solutions like online accounts and cards that facilitate a non-cash form of payment in this modern economy. The FCA regulated company lends its services to individual and corporate clients in a number of countries. The company is run by a team of managers and partners with the long and successful career in the industry of internet payment solutions way before the founding of PSI-Pay. The company is located in Horsham city of the United Kingdom.

 

PSI-Pay’s latest contactless payment model

 

The contactless payment model is a mode of payment that uses credit cards, debit cards or smart cards as a means of payment for goods and services as well. PSI-Pay in partnership with Kerv a jewelry manufacturing company has partnered and come up with a proprietary ring designed by Kerv that can be used as a form of contactless payment.

 

How does the proprietary ring work?

 

The ring uses the NFC near field communication technology or the RFID technology to act as a mode of payment. All the user has to do is to tap the ring on a point of sale terminal which will access the software and be used to make a contactless payment. Unlike other forms of contactless payments, this one does not require the use of a pin or signature. The maximum payable amount is determined by the bank it’s integrated too. In case the user wants to make large amounts worth of purchases, then he or she has the option of using a card that is linked to the ring. The card can also be used for online expenditure.

 

The Kerv designed ring comes in a variety of sizes, colors and is designed to be waterproof and immune to scratches. The ring is also set to accommodate all genders.

 

 

 

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