PSI Pay’s Move towards a World of No Cash
With the constant changes in the business world, the use of cash will soon become a thing of the past. This is evident with the rapidly growing population of shops that have shifted from using cash to credit cards especially in Britain. This will be boosted by the information that PSI Pay and Kerv Wearables passed across recently that they were going to release a contactless payment ring. This will bring a lot of changes to the global market since many doing away with cash in the market are a great achievement. This will also increase the quality of products since paying for services or goods using contactless payment will do away favors that people used to get for a product with less quality.
Description of Contactless Payment
Contactless payment is a form of payment where one pays for goods and services using credit cards, debit or smart cards instead of paying cash. This is the new way in a business that has been brought by PSI-Pay Company which has collaborated with Kerv to bring this change into the international market. Kerv which has partnered with PSI Pay to bring contactless payment into the world of business designs the rings that are used for paying goods and services. The rings have been designed in twelve sizes and they also exist in various fashions in accordance with gender. The rings are also designed in a way that they can easily be damaged even when they come in contact with water.
— PSI-Pay (@PSIPayLtd) August 10, 2015
PSI Payment Company and Kerry have collaborated in marketing their idea in order to influence the world to migrate from the use of cash era to an era where you are able to pay for goods and services using contactless payment. According to PSI Payment using contactless payment is easy to use and also fast since all you are needed to use is to tap the card or ring to terminal known as point-of-sale. The company also pointed out that this form of payment is safe because it protects the buyers from making any illegal payments. The process is also to use for anybody since it does not need the use of a PIN or a signature. Another important fact to note about this form of payment is that there is a limit that one can use per day. Once you have reached your limit you will be required to wait until after 24 hours before you can conduct another payment. However, this is not a problem since you can increase your limit depending on the bank you are using.