Crowdfunding technology has allowed a proliferation of innovation in numerous industries since its inception. This is more evident in the recent announcement of the wearable payment technology ring that is being released into the market after the partnership between Psi-Pay and Kerv Wearables. Psi-Pay has announced that the new contactless payment ring will allow individuals to make purchases both in physical locations and online easily just using the ring on their finger.
Psi-Pay is already well known around Europe is one of the leading financial technology companies. They have allowed the use of digital wallets around the world and the recent innovation in the contactless payment ring will only further prove their dominance of the industry. The new technology would not have been possible without their partnership with the wearable technology company Kerv Wearables. The leadership staff present in both of the companies have publicly stated that they are very pleased with the results of their business partnership.
Another source of innovation within the financial technology industry in the past several years has been the introduction of digital wallets. These digital wallets have been able to take the place of traditional physical wallets, particularly in the European zone of influence. This has been made possible by another business partnership made between Psi-Pay and digital wallet service company Ecopayz. Users of that service have been able to pay incredibly low fees for the use of their wallets and are able to choose from five different levels of membership. Each level of membership is able to have international currency transfers that are free of charge. Psi-Pay has been allowed by the governments of the European Union to issue master cards that have been prepaid for the use of their service. The growth in the use of digital wallets has allowed consumers convenient ways to make payments. The adoption rate of this new technology has been increasing in recent years, and now over 80% of sales terminals in the Netherlands allow the use of contactless payments. One key benefit of the use of digital wallets is that they are typically much more secure than physical wallets.
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