The U.K. based online banking service PSI Pay partnered up with the Fintech company Kerv Wearables to offer their customers an alternative option when it comes to making financial transactions. The Kerv payment ring makes it possible for consumers to never have to take their wallets and purses along with them again when shopping, and since PSI Pay has been a member of Mastercard since 2009, the device can be used at any business that accepts this card. Some of the advantages of using this payment method is that no PIN, signature or bank account is needed, and it never needs to be charged, like smartphones or some other electronics do. Made of zirconia ceramic, the payment ring offers durability and is scratch-resistant, waterproof and hypoallergenic. It comes in many sizes and has 14 different color combinations to choose from.
PSI Pay was started in 2007 as a way to provide businesses with more convenient payment solutions. The company issues prepaid cards, debit cards, and the Kerv contactless payment ring option, all of which are available in 44 currencies and is accepted in 173 countries. It has been able to offer its card services throughout the European Union, or EU, since 2014. The Kerv Wearbles payment ring is one of the first of its kind to combine fashion with functionality, and PSI Pay is looking forward to this mode of payment being the way of the future since a lot of British citizens have been carrying less cash in their wallets over the last few years. Most users of the contactless payment ring have given it rave reviews, expressing how easy the device is to use, and since PSI Pay is in compliance with the UK Data Protection Act, wearers of the ring won’t have to worry about their personal data being shared in a way that is not secure.
In the same way other wearable devices like fitness trackers and smartwatches are used for their functions, the Kerv contactless payment ring provides customers with both a fashionable and more secure way to get their shopping and bill paying done. The many benefits the ring affords its users is the main reason why it will most likely catch on in several other places across the globe in the near future.