Change is inevitable especially in our current world where technology is the order of the day. If you don’t change, then something or someone will change. The banking industry has had various changes and transformation but what it is yet to experience fully seems to be more excellent and thrilling above the previous advancement. Have you ever thought of contactless and cashless payment? Well, it might be hard even to think of how possible it is but the fact is that the technology is here with us introduced by PSI-Pay Ltd in collaboration with Kerv.
The beauty of PSI-Pay is its ability to close the existing gap between digital wallets of different countries across the globe; it will enable quick and secure international payments. For example, digital wallets used in European market like Ecopayz come with the convenience of having multiple currencies and enables the users to deposit or withdraw money from various ATMs using their credit cards. The cons of carrying digital wallet are how conscious you ought to be especially when carrying a large amount of money and the many complaints that the digital wallet providers settle daily.
Digital wallets in America are connected to their credit and debit cards which they use to settle their transactions. Most of the young adults in America prefer using digital wallets like Masterpass and Walmart Pay because of the speed and security in it nevertheless; it has not fully become an alternative to a bank account.
Many experts predict that by 2020, PSI Pay contactless payment will have taken considerable roots in America and Europe. As a matter of fact, this cashless payment method is doomed to be more popular and common than cash according to financial reporting. Consequently, it is an alternative banking solution that will enable users to deposit or withdraw their funds fast and secure from their banking network in over 44 currencies across 173 countries worldwide.
Kerv in partnership with PSI Pay has replaced credit cards with wearable devices like watches, rings, pins, bracelets, gloves etc. to be used in paying merchants. No more PINs, signatures, carrying phones, long queues or replacing batteries. Although digital wallets used by Americans and European market save time and secure, PSI Pay seems to add more advantages over the digital wallets. That’s why many are going for them and the future for the wearable devices is guaranteed especially after people become aware of them extensively.