Tuesday 7th June 2016 – PSI-Pay and Kerv Wearables have announced that they are partnering up to enable the world’s first contactless payment ring, to be released to the global market.
PSI-Pay is one of the UK’s leading regulated Fintech companies, providing digital account and payment card facilities to the international market and Kerv are one of the leading innovators in the alternative payments industry.
The partnership utilises PSI-Pay’s MasterCard licence which will enable users of the Kerv contactless payment ring to pay in 38 million locations worldwide. Kerv users will 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 may 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 said; “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 continues “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, has received global media coverage and has won a host of awards, most recently the Temenos Innovation Jam in front of a global banking audience.
Notes to editor
For enquries Phil Davies is available for interviews and speaking opportunities. For further information about PSI-Pay and for further enquiries contact Nicola Cooper, Media Services Manager on +44(0)1403 788 336 or email [email protected].
About PSI-Pay Ltd
Globally renowned for our secure, online digital account (ecoPayz), PSI-Pay Ltd is an FCA regulated company that provides a rapid, secure and private means for individuals and businesses to make payment transactions globally.
PSI-Pay Ltd is authorised by the FCA under EU electronic money regulations 2011 (register reference 900011) for the issuing of electronic money.
PSI-Pay Ltd is a Principle Member of MasterCard® offering bespoke virtual and physical card programs for companies and individuals worldwide. These include corporate expense management and remote staff payment schemes that utilise PSI-Pay’s self-card and account issuing facilities. MasterCard is a registered trademark of MasterCard® International Incorporated.
Kerv is the world’s first contactless payment ring.
- Make contactless NFC payments up to £30 (contactless payments limits vary by territory)
- Accepted at over 38 million locations worldwide
- Switch rings on and off, manage funds and receive transaction alerts via app, SMS or website
- Link an optional contactless prepaid card to a Kerv account for higher-value transactions
- The Kerv account is governed by FCA regulations for the issuance of e-money
- Tap-in on tubes, trains and buses in the Transport for London network (and other transport networks around the world)
- Share personal data – such as contact, emergency or medical details – at the touch of an NFC-enabled smartphone
- Access home, office or lockers via compatible NFC-enabled locks
- Never needs charging and does not need to be paired with a smartphone to operate
- Waterproof and scratchproof
- Designed for men and women, Kerv is available in 2 styles and a wide range of sizes
- Estimated retail price is £49.99