Alternative methods of making payments are becoming more and more creative, and PSI-Pay, the online banking company that focuses on credit card and prepaid debt offerings, is coming up with plenty of its own solutions. The way that people communicate and engage with each other is changing rapidly, and it only makes sense that methods of making payments would be changing just as quickly. The Kerv payment ring, which was an idea that sprung from a joint venture with PSI-Pay and a Fintech company, is allowing people to not have to carry money with them at all. These kinds of new technologies also allow people to not have to worry about validating a transaction with a PIN or having to sign anything. It just makes it all quick and easy to do.
PSI-Pay is not alone in their belief that alternative payment devices will become the main way that people pay make payments for anything in the future. First off, devices like the Kerv ring allow people to not have to carry cash, credit cards, or debit cards with them. There is also a trend to not carry cash at all, and close behind this is a desire to not have to carry a wallet around, period. Along with this is the need to make checkout lines move more efficiently as people have so much more to keep up with in today’s world. Last, but not least, is the truth that having to carry around cash and credit cards is dangerous because people can steal cash and can also use card-skimming devices to lift people’s information.
PSI-Pay has been supporting Kerv Wearables, which make contactless payments personal and much easier, but there are still questions as to whether the technology will go mainstream or not. The reason for this is because the public still has a lot of concerns about the security and ease of using these kinds of devices. If companies, like PSI-Pay, can prove to the public that wearable payment devices are more secure, easier, and convenient to use, then there is a good chance we will be seeing more of these in the future.