The real Lord of the Rings..
In a world where our parents were born from an era called “old fashion”, it’s no wonder why we call them that. The forward pace that technology continues to take, is anything but less than mind-blowing.
In a world where we have a widespread of identity theft, bank theft and fraud, tax return fraud and even within our own banks, bank account fraud, it has never been more imperative to try and protect our finances and the financial process. We are always thinking about making elaborate or even just time-consuming tasks, much easier for us, but we have to remember that without safety precautions to protect our finances, we won’t have any.
PSI is one of FinTechs leading companies in the forefront of “alternative banking solutions.” The Alternative Payment Industry is constantly being pushed by innovative companies like PSI, in hopes of changing the art of “Digital Payments.” With just the swipe of a hand, we can now make payments for products, load money into accounts and even transfer money between accounts. PSI-Pay and Kerv Partners are announcing the worlds first Contactless Payment Ring. Yes, you have heard that right, they are releasing to the market a metal ring that put on your finger and where like an engagement ring. “Don’t bite the hand that feeds you” takes on a whole new meaning with the release of this new product.
Digital Ring Payment, also known as the “Wave and Pay”, has easily accounted for one-third of all of the UK’s payments. A revolution on its way to surpassing cash payments. Security, as discussed earlier is a necessary part of this technology, and was made possible by NFC- near-field communication and RFID technology. These guys are both leaders in the industry and inviting the partnership, only made sense.
Technology is made to help us. To make our everyday tasks easier, safer and possibly cheaper, but it is up to us find out how advantageous these new technological advances are by using them. We, the customers, have only one job to do, that is to try these new technologies for ourselves in order to keep the bar of standards high.