Innovative contactless payment ring released by PSI-Pay and Kerv

Nell Walker
- Technology - Jun 09, 2016

PSI-Pay and Kerv Wearables have teamed up to release the world's first contactless payment ring to be released on the global market.

 

PSI-Pay is one of the UK's leading financial technology companies, while Kerv is an important innovator in the alternative payments industry. 

PSI-Pay has the benefit of a MasterCard licence, enabling users of the Kerv contactless payment ring to pay in 38 million locations worldwide. Kerv users can fund their account via debit or credit card, bank transfer, or PayPal, using either manual load or auto top-up services. Kerv users can also make online or in-app purchases with their virtual card.

Phil Davies, Managing Director of PSI-Pay Ltd said: “We are extremely 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.”

Phil Campbell, Founder of Kerv added: “With Kerv we are creating a unique new payment device – not only with a more convenient, personal form factor but extending its capability beyond payments, to transport, data sharing and access control.”

He continued: “With numerous challenges to bring Kerv to market, it was important to work with partners that are responsive, open minded and capable of solving challenges. PSI-Pay have demonstrated that clearly through our work with them, and we would not be able to bring Kerv to market without their support.”

The Kerv contactless payment ring exceeded its target on Kickstarter in October 2015, and has received global media coverage. It has also won a host of awards, most recently the Temenos Innovation Jam in front of a global banking audience.

 

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