PSI Pay: An Innovating Banking Solution
PSI Pay is a global payment solutions and e-money company based in Horsham, West Sussex. The company was founded in 2007 and Craig James serves as the Director . PSI-Pay is authorized to issue e-money by the Financial Conduct Authority of the United Kingdom under the 2011 Electronic Money Regulations. PSI Pay is the principal issuing authority for Mastercard. The payment solutions that PSI Pay offers are:
• Fund Safeguarding. This option is for regulated or unregulated companies who don’t want to issue cards but need to hold customer balances with the support of an FCA regulated partner.
Partner Sponsorship Lite.
• Partner Sponsorship Lite. This is for companies with the proper authorization who want to become an member of MasterCard. They will be allowed to put that they are the issuer on the cards.
Full Partner Sponsorship.
• Full Partner Sponsorship. This solution is for who want to skip the regulatory and scheme designations but still run their own prepaid or debit card program.
Regulated Partner Sponsorship.
• Regulated Partner Sponsorship. With regulated partner sponsorship, companies with the proper authorization to hold customer balances can use this solution even if they are not MasterCard members.
In 2016, PSI Pay, partnered with Kerv Wearables to release the world’s first contactless payment wearable ring. Buyers load money into their prepaid Kerv account and use the ring as they would any other contactless payment option (like waving a smartphone over a processor). The ring does not have a battery and never needs to be charged. It operates electromagnetic induction, meaning that it draws power from the the reader at the point of sale. The ring can be used anywhere in the world that accepts contactless payment.The ring is one example of how PSI Pay is enabling innovative new companies to expand. PSI Pay’s mission is to empower companies all over the world to conduct business and collect payments seamlessly and they are continuing to do that each day.
PSI Pay’s Social Media: twitter.com/psipayltd?lang=en