One of the United Kingdom’s leading regulated financial technology (FinTech) companies, PSI-Pay Ltd., has been making payment solutions available on a worldwide basis for more than ten years.
The intent of PSI-Pay’s new technology is to challenge conventional financial approaches in dispensing financial services.
Launched in 2007, PSI-Pay, has been a Principal Issuing Member of MasterCard International since 2009 and licensed to deal out debit and prepaid payment cards, virtual cards and contactless (paypass) programs. In 2011, PSI-Pay obtained its Electronic Money Institution license which authorizes the company to issue electronic money throughout the European Union (EU).
Regulated by the UK Financial Conduct Authority, the Authorized e-Money Institution, PSI-Pay supplies a prompt, private and secure way for both individuals and companies to make payment transactions worldwide. PSI-Pay members can deposit and withdraw funds from the banking network in 44 currencies and 173 countries.
Phil Davies joined PSI-Pay as an advisor in 2010 and was appointed to the board a year later. Davies, an acknowledged payments industry specialist, is more than satisfied with PSI-Pay’s growth especially during the company’s best year, 2015.
Business volumes stepped up 29 percent, income revenue climbed 45 percent and pre-tax profits rose by 5.5 percent in 2015 compared to 2014 which realized a 15 percent increase in revenue and 43 percent gross profit.
Davies commented in a statement that the increase validated the quality and competence of the company’s staff. He also called attention to the thriving promotional campaigns that included the launch of PSI-Pay’s affiliate program, the introduction of new products and the growth into additional countries.
What’s more, Davies pointed to advances in payment card program sponsorships as well as early positive signs for the year ahead.
In 2016, PSI-Pay revealed it has teamed up with Kerv Wearables to enable users of the Kerv contactless payment ring to pay in more than 38 million worldwide locations. Users will also have the capability to support their account through a debit or credit card, PayPal or bank transfer as well as check over their spending in real-time.
The Kerv ring, which is waterproof and scratchproof, is linked to a Mastercard prepaid account issued by PSI-Pay.
According to Davies, Kerv offers one of the most original and inventive solutions in the market. He also said PSI-Pay is pleased to be partnering with Kerv and its ground-breaking payment applications.
About PSI-Pay: www.linkedin.com/company/psi-pay-ltd