Another Way of Banking is with PSI Pay!
Citizens all over the globe want to find ways to protect and use their money better. The constant highs and lows of the common way of banking leaves us wondering what to do to save what we have and use it in a safer and better way. PSI Pay is a UK based alternative banking system put in place to help citizens withdraw and deposit money in real time in 173 countries in 44 currencies. This is a creative way to use money electronically without someone viewing every transaction you make and you have a digital way of keeping track of what you spend.
Since 2007, PSI Pay has been providing global payment solutions to businesses. Two years later, they became a Principal Issuing Member of Mastercard International and licensed to issue debit & prepaid cards, virtual cards and contactless programs. The first contactless payment ring occurred when a partnership between Kerv and PSI made magic in 2016. Users are able to fund their account via Paypal, debit cards, money transfers and other methods, along with making purchases online with their virtual card. Having a piece of wearable item to make purchases is definitely an innovative part of technology! Users are able to handle money at all times via alerts from a SMS or the downloadable app.
Digital wallets are very wide spread among Europeans, even if some may not understand the reason for having it. It enhances security of your currency by replacing the use of cards and cash with a mobile device. By having PSI Pay, consumers are less worried about switching to digital banking due to government regulations is covers. The license for electronic funds was given to PSI by British authorities in 2011. They have seen a rapid growth since the modern banking solution was presented. This progressed even more in 2017 when this amazing company became the Principal Member of Visa, supporting their card programs.
According to experts of PSI Pay, contactless payments will become more convenient than handing over cash for every purchase you make. Their soaring revenues acquired each year makes this a real prediction. Security is a major issue so people are looking for alternatives for protection. A report from the New York Times states that fraud only affects about $1 from every $2750 worth of contactless payments. With this millenial system, slowing down is definitely not in PSI’s immediate future!