Contactless payment is an alternative form of banking which has been in the market for over ten years and is widely used in the UK. In a bid to make payments for goods and services, this alternative banking method uses credit, debit or smart cards. PSI-Pay Ltd is a leading regulated company that offers the contactless payment service in the UK and is part of FinTech companies. Since 2007, the firm has provided services to local and international businesses, providing payment card conveniences and digital accounts to consumers both in the UK and all around the world. The PSI-Pay is keen on values such as clarity, efficiency, and transparency when offering its services to its consumers.
PSI-Pay is a well-known firm that offers a well secure online digital account known as ecoPayz. It allows for private and reliable means to make payment transactions worldwide. All the operations by the consumers have been well secured. Hence the users don’t have to be worried about fraudulent dealings. One measure is the use of cards within a limited amount of time to prevent duplication of the cards. The FCA has ensured that PSI-Pay Ltd is authorized for issuing of electronic money; under the European Union electronic money regulations.
It has been possible for PSI-Pay to issue PayPass programs, bespoke virtual cards, debit and credit cards; to both individuals and organizations worldwide. This is possible since the firm is a Principal Member of MasterCard. This has also aided in offering MasterCard services directly in the European Union. Some of the firm’s services, namely; the self-care and account issuing facilities; have been useful in remote staff payment schemes and expense management among corporates.
In an interview with the prepaid forum, the managing director was reporting about the firm’s 2015 financial year and what led to its success. It’s clear that one of the significant contributions to this is having professionals who have a good knowledge of alternative banking and team effort as they work. The considerable growth in PSI-Pay is attributed to promotional campaigns, the release of new products and venturing into new markets in other countries.