PSI-Pay leads the way in alternative payments

Payment technology has come a long way. We have moved from barter trade to paper money, to plastic money until we have reached the era of wearable technology. With the wearable technology, there have been a dozen imaginative ways to make payments from bracelets to watches and wristbands.  The means eliminate the need to carry cash, credit cards or remember your pin while making a payment. You just tap, and the payment is made.

PSI-Pay is an online banking firm that deals with both debit and credit cards Incorporated in 2006, it joined hands with Kerv Wearables and Fintech Company to come up with a contactless MasterCard payment ring. The ring is worn on the middle finger and uses contactless technology to make payments.

 Contactless payments are the payment methods of the future

Contactless, cashless mode of payments will become the payment methods of the future. Most of the people are now carrying less cash than they did several years back. With more outlets around the world accepting the cashless payment options, most people feel secure going cashless. Moreover, there has been increased credit information theft both offline and online leading to fear and concerns about personal financial information safety when using contact-based payments. The contactless technology will solve this problem. 

 There are few risks

Players like the PSI-Pay and its partners are working round the clock to ensure that users money a remains safe when they carry out the transactions. The technology has a low transactional value that does not attract theft or cause a major financial effect on the victim. Moreover, near field technology has been widely accepted as a mode of sharing information and data on smartphones and other devices making the acceptance of such technologies for payments a lot easier.

PSI-Pay numbers have been looking good ever since it started operation, an indication that the market is taking up these innovative products. The company expects increased growth in the near future as it forges new relations with suppliers and outlets across the world. MasterCard is a leading credit and debit card service company, with its cards accepted around the world. This gives PSI-Pay credibility and a wide market which can accept its solutions.