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Industry Spotlight: PSI-Pay partners with Kerv for revolutionary payment ring solution…

After reaching its financial target via Kickstarter in October last year, the contactless start-up brand, Kerv, and leading regulated Fintech companies in the UK, PSI-Pay, have announced their partnership to provide the public with the very first of its kind set to be released to the global market on an unspecified date.

The aim of the partnership is to apply PSI-Pay’s MasterCard license which will enable users of the Kerv contactless payment ring to pay in 38 million locations worldwide; as well as allowing users to be able to fund their account via debit or credit card, bank transfer or PayPal, either via a ‘manual load’ or the auto top-up service. In addition to contactless payments, Kerv users can also make in-app or online purchases by using a ‘virtual card’.

pleased to have been chosen to work with Kerv. As alternative payments, go Kerv has to be one of the most innovative, exciting and useful solutions available. There is no doubt that the market is now embracing these revolutionary payment applications and we are proud to be partnering with Kerv and being able to share in its inevitable success.”

To put the popularity of contactless into perspective, for the month of March alone, statistics from The UK Cards Association found that there were 179.6 million transactions, a significant increase of 12.9 per cent on the previous month; and there were a total of 86.5 million contactless cards issued. Recorded payment cards were split between debit (60.9 million) and credit cards (25.6 million) and resulted in an increase of 2.7 per cent on the previous month.

In a society where contactless is considered to be the new norm, it seems that the concept of contactless jewellery is, somewhat, a far-fetched yet an inevitable proposal that someone would eventually come up with in a bid to extend the contactless popularity and create an innovative trend set to sweep the global retail consumer market.