PSI Pay delivers innovative banking with the worlds first wearable electronic ring device. The United Kingdom-based company was founded in 2007. PSI Pay is a fintech niche company that specializes in credit cards and financial services. The financial company became a prestigious Principle Member of MasterCard. PSI Pay has been an active issuer of MasterCard products since 2009. The company teamed up with Kerv Wearables, a cutting-edge technology company that specializes in alternative payment capabilities and solutions.
Both companies came together in unison to bring forth transformational banking technologies. Kerv introduced a new contactless payment ring which will allow customers to utilize 38 million MasterCard payment locations globally. The ring’s technology is independent of smartphones, and it alleviates the need to carry a wallet of credit cards and debit cards. Payments can easily and safely be made by the motion or gesture of the contactless smart ring. Kerv customers may utilize the innovative payment platform with online or offline merchants who accept MasterCard.
The device has multiple positive characteristics including the fact that it offers an extra layer of security in regards to data breaches. It also reduces time spent in long merchant lines and eliminates the need to carry multiple credit or debit cards. Per Phil Campbell, the Founder of Kerv, the device will be much more than a high-tech payment instrument, he adds that the company looks to reach data sharing and access management capabilities as well.
PSI Pay and Kerv Wearables have faced challenges and hurdles in the advent of launching the contactless payment ring in 2015. Even so, the project surpassed their sales expectations and garnered numerous awards nationwide. PSI Pay has brought banking to new levels with the introduction of the smart ring payment device. The future of smart wearables is extremely favorable. As time passes, technology will continue to evolve. This creates more and more opportunities for businesses and individuals to modernize day to day transactions, including banking.