PSI-Pay is being introduced into the U.K., Europe and other parts of the world. This is a cashless form of electronic payment that consumers can use to purchase select goods. PSI-Pay cashless payment system is being called contactless payment. Users will be able to use a ring or a mobile device to make swipe payments at terminals that will accept this form of payment. Some churches in England have even adopted this technology for tithes and offerings.
PSI-Pay is not any thing new. This form of technology has been around for some time. Companies such as Apple have already been using it, but it did not catch on with most American consumers. European consumers also had some experience with this technology years ago. However, European consumers did not gravitate toward the technology. This time around, this payment system is supposed to be more widespread and easy to use by consumers who are showing an interest in this form of payment.
Consumers will benefit from PSI-Pay because it will make it easier for them to make payments. They will not have to worry about carrying cash around or waiting for a credit or debit card to be validated. Users will still need to provide PINs and chips to complete transaction processes. This is a form of safety for users and it will also allow consumers to track their transactions on their phones through a banking application.
PSI-Pay is a Fintech company that provides digital account and payment facilities for businesses and organizations. This technology can be utilized at 38 million locations across the world. Users will also be able to utilize their accounts through debit or credit card or by bank transfer. They can also utilize PayPal or manually load money onto their mobile device or ring. They will can even set up service through an auto top-up feature. PSI-Pay is expected to revolutionize consumer payments and European financial markets in the near future.