PSI Pay is a privately owned company located in the United Kingdom which was founded in 2007. Alternative banking is provided by PSI Pay which helps businesses manage their finances. Individuals who are highly skilled in alternative payments and banking are employed by the organization. PSI Pay is an issuer of debit cards, prepaid cards. Moreover, the company has issued electronic payment products in 44 currencies and 173 countries. The company was named a MasterCard Principle since 2009.
The Managing Director of PSI Pay is Phil Davies. During 2010 Davies began his career with the company as an advisor. In 2011 Davies accepted an appointment to the board. Tony Davis is the Finance Director. Davis received his credentials as a Chartered Accountant in 1977. Craig James is a Director at the company and he has a vast amount of experience in business in areas such as risk management and regulatory aspects of business.
A recent partnership has occurred with Kerv Wearables. This partnership will provide a Master Card ring which will allow customers from around the world to make purchases. This innovate payment method will allow customers to make payments without providing their banking information during transactions with the merchants. Consequently, individuals will not need to carry a wallet, credit cards, or debit cards to make purchases when using the Kerv ring. The type technology used in the Kerv ring is expected to be the preferred way customers will pay for goods and services in the future because of concerns such as identity theft, the decline in consumers carrying cash in society, and the rise in theft caused by credit card skimming technology. Additionally, technical glitches at traditional banks have led to an increase in the necessity of alternative payment methods. The ring is backed by FCA regulations . Concerns customers will monitor are addressed by PSI Pay and Kerv Wearables which include: the ability to connect their rings to other accounts such as PayPal and bank accounts to refill the rings, the capability of using the ring in more than 38 million merchants around the world.