PSI-pay is an organization that has been providing solutions in payment transactions to many businesses across the world. The company has three licenses which are, payment institution license, the institution of electronic money permit, and lately, they have an acquired the permit to transact electronic money in the European Union. Through EU, the company offers master cards services. Apart from master cards it also issues virtual cards and debit cards. The company offers four main different products. These are online payment accounts, virtual payment cards, physical payment cards and the contactless payments. The company’s unique advantage is that it operates being the main accounts with other small accounts called sub-accounts located at the departmental level and it enables a good balance of control and flexibility. Budgets can’t be overspent until accounts are topped up because they should have positive balances. This allows control financially at all business levels.
In June 2016, Kerv and PSI-pay announced that they were in a partnership to produce contactless payment, the first globally. This partnership uses the MasterCard license given to the PSI-pay which gives access to it users to make contactless payments in 38 million areas globally. Using their virtual card, the Kerv users can make online purchases. The users also fund their account through credit or debit cards, PayPal or bank transfers. The managing director, Phil Davis, said that they were greatly delighted and honored to be part of Kerv. The contactless payment is a way that allows one to make payments for services and goods for money equivalent to or less than 20 Euros, without requiring a pin. This method is safe and fast since encryption is unique and protects the transactions information. It incorporates various ways and layers of protection such that unauthorised purchases cannot be made.
On the UK vote to leave EU, PSI-pay assured its consumers, corporate and customers that nothing in the company was to be affected, no negative consequences will hit the company and business, and transactions will go on normally. In 2016, the company announced that 2015 was there best year financially. This was as a result of completing its strategic repair, formed new and strong supplier relationships and technologically invested in its capabilities to provide more security. In 2015, the business volumes raised by 29%, profits from pre-tax was up by 5.5%, and the income revenue increased by 45%.the year 2014, their revenue increase was 15%, and total profit was 43%.
Connect with PSI-Pay on Linkedin.com.