The world of technology is evolving by the minute. Time is gone when people had to physically travel to banks in distant places to access their money. Digital wallets are the latest disruptive technology that is taking the financial world by storm. Banks have either had to cope by partnering with companies that offer digital wallet payment services or start their own similar services. PSI Pay is yet another Digital Wallet that seeks to satisfy online cash transaction needs. Typical of a business that seeks to carve a special niche on the market, PSI Pay comes in with a tweaked service that offers a uniform cross -country payments.
— PSI-Pay (@PSIPayLtd) June 6, 2016
What Are Digital Wallets, and What Is Online Payment All About?
Digital wallets are just what they are called. They are accounts that allow users to access cash with ease and transact online. Digital wallets work differently in different countries. The common denominator is that a digital wallet helps users to conduct transactions across online payment systems fast and without the risk that other online payments involve. So, they are wallets because they hold cash that can be accessed at the press of a button, just like one would reach into the traditional leather folder that has been used to keep money while on transit over the years. In essence, a digital wallet has called people to replace the traditional leather money folders with mobile devices. PSI Pay is a UK-regulated financial technology company. It offers online payment
services to international clients. The company is partnering with Kerv Wearables to develop a payment ring that does not require contact to effect payments. Details of the technology reveal that the partnership will make use of the MasterCard License secured by PSI to allow the Kerv users to use the contactless payment ring to effect payments across a whopping 38 million locations across the globe. The users from Kerv will fill their accounts using either their debit, credit card, PayPal, or bank transfer through either the auto top-up method or manually. The deal is hailed by many online payment enthusiasts as a major revolution that will drive digital wallet effectiveness to new heights.
Advantages of Digital wallets
Digital wallets, like PSI-Pay’s ecoCard, are handy tools. You can access them with ease wherever you are. They also offer enhanced security. They come with strong security features that make it hard for fraudsters to access cash that belongs to others. Furthermore, with digital wallets such as PSI Pay, one does not have to carry around numerous cards. They ease the baggage and enhance security.
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