Category : Banking Expert

With This Ring, PSI Pay Weds Itself to Contactless Payment

I don’t know about you, but the idea of wearable money conjures images of credit cards, gold of course, dangling from someone’s ear lobes, or maybe a crisp note, pound or dollar, rolled up, and placed around a finger. Wearable wallets are coming, but they won’t be quite like that if a leading fintech company, PSI Pay, has anything to say about it.

The rise of contactless payment is already underway, and, while we may currently associate the concept with smartphones, PSI Pay and partner Kerv Wearables have something a little more stylish in mind. Mobile phones have made so-called “wave and pay” an option for more than 10 years, and contactless payment now accounts for a third of all UK transactions. The technology has become so ubiquitous that even the Church of England, for all its associations with rigidity and tradition, is taking notice. Church goers can now stand inside centuries old cathedrals and make their tithe at a contactless terminal.

PSI Pay uses its proprietary payment system to replace credit and debit cards with a contactless device, usually found in a smartphone. They were one among many such vendors to provide this type of service, until they partnered with Kerv. This is where things get interesting. Kerv placed all the power of contactless payment into a simple, wearable titanium ring. Their rings are durable, water resistant, come in a assortment of sizes, and are designed to fit all genders. Most importantly, thanks to Kerv chaining their product to PSI Pay’s services, their rings hold all the purchasing power of a wallet. With a simple tap on a terminal the transaction is complete; no pin are signature necessary. The rings are secured by RFID technology and by purchasing limits put in place by national frameworks and individual banks. In the UK, for instance, single purchases are capped at 30 pounds. The rings can also be turned off, if necessary.

Kerv’s choice in partners shouldn’t be surprising to fintech insiders. PSI Pay saw its revenues increase by 45% in 2015 alone, with a 5.5% rise in profits, and this was on the heels of similar results in 2014. As contactless payment’s expected growth continues, the company seems well primed to take the advantage. With 7 billion pound notes still in circulation, physical money won’t be disappearing completely, but PSI Pay and Kerv believe they’ve got the future in, or perhaps on, their hands.

Igor Cornelsen and International Investments

If you have ever wondered what it is like to invest in stocks outside of the United States Igor Cornelsen is the perfect candidate for getting you acquainted with this what you need to look for. Diversifying your portfolio is something that he recommends, but a lot of people may not know where to get started.

Igor has a blueprint for what I takes to be successful in diversification. Brazil is where he has specialized, and this is where he believes many people will benefit if they expand past American Investments.

The thing that Igor recommends is getting acquainted with the culture. He recommends this if you want to invest in Brazil, but this type of investment knowledge applies to all areas of investing. He is someone that has lived outside of the United States before moving to Boca Raton, FL.

Brazil was home for many years so he became intimately aware of the culture because he was living there. As an investment banker he had more knowledge on what was going on in Brazil than the average citizen that may not have paid much attention to the financial aspect of things in Latin America.

This is what investors must do if they are excited about the possibilities that exist for investing outside of America. It is not enough to know the culture in a tourist type of fashion. One must pay attention to the cash crops and be aware of the exports that are coming out of these countries.

You must know about the things that people are most excited about in terms of what they purchase. All of these things are going to play an intricate part in how people earn money from their investment. If you do not know the things that are moving the economy forward you are going to be ill-prepared for investing in the various stocks that are presented in this new environment.

When you look at investing in another culture other than your own you must also realize that red tape is something that you have to expect. Igor Cornelsen warns people that they must keep their eyes open when it comes to their investing needs. If they are looking for a greater return on investment they must know if the red tape in another culture is going to slow down the return on investment that they would expect to make outside of America.