PSI-Pay and Kerv Wearables boast of inventing the first wearable ceramic ring that can make contactless payments. The ceramic ring allows you to pay for goods and services from a linked account. The ring uses near-field communication technology that interacts with a merchant’s contactless card reader when you are less than 1.6 inches away. The wearable ceramic ring was unveiled at the yearly Wearable Technology Show. The founder of Kerv Wearables acknowledged that their new invention could not be a success were it not for the joint partnership with PSI-Pay. Despite Kerv having the financial muscle to create the product, they needed an expert in innovative payment systems which PSI-Pay was the best.
The ring provides high levels of dependability and security which persuaded MasterCard to approve its use with prepaid accounts. Users can, therefore, make payments to millions of shops, transportation services, theaters and eateries across the globe. Also, PSI PAY customers do not have to sign receipts, pair a phone with the device, remember personal identification or get stranded at eateries when their mobile phones run out of battery power. The ceramic ring does not depend on a mobile app for it to work.
The wearable ring was manufactured using ceramic material that is not only sturdy but also waterproof and not going to break and scratch. Also, the materials used to manufacture the ring hardly cause skin irritation or damage. The wearable ceramic ring is available in different colors and sizes. Consumers can order for a black and orange, white and blue or solid white. PSI Pay makes these rings at affordable costs about £89.99 to £ 99.99 to own one. You do not need to worry if the ring you ordered will not fit you. Kerv Wearables sells a sizing tool that helps consumers to determine their finger size before making an order. The firm also offers free shipping of the jewelry and accepts back orders that did not fit their customers’ fingers.
With the evolution of electronic wallets, the managing director of PSI-Pay, Phil Davies, compared two prominent models namely the American and the European. The former is mainly used to make purchases of goods online while the later can be used to make a variety of payments. The American model lacks the element of stored value and is entirely card-based hence chargebacks can be passed through irrespective of the circumstances. However, in the case of the European model, it incorporates an element of stored value, and the wallet operator stops chargeback liabilities.
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