PSI-Pay is an alternative banking solution that allows its members to withdraw and deposit funds spontaneously. The company which has been operating since 2007, allows its clients to operate within the local banking network that exists in 173 countries using 44 currencies.
Services that PSI-Pay Provides:
PSI-Pay employs efficient banking staffs who have adequate experience in the sector. Their team has motivated staff who understand the alternative payments industry and banking as a whole. The alternative banking firm offers payment solutions with sponsor partners. In addition to this, the company assists various companies in managing programs of their own through the management of MasterCard and FCA. Recently the company partnered with Kerv Wearables to provide one of the first payment rings that is contactless. Phil Davies who is the banking firm’s Managing Director was pleased with the deal. Regardless of the decision of the UK to leave Brexit, the company has already planned for any eventuality that might occur. The merge with Kerv Wearables is a revolutionary move that will be recognized all over the world. The two companies are one of the pioneering entities in the alternative payments sector.
PSI-Pay was licensed in 2007 by FSA to provide payments. In 2009, the company became a main issuing member of MasterCard. Therefore, it is licensed to give out both prepaid cards for payments, contactless or PayPass programs, virtual cards and debit cards. By 2011, the company had already obtained their license from the EMI. Subsequently, they are regulated and authorized by the FCA to conduct electronic money transfers all over the European Union. However, from 2014, the alternative banking company has been authorized to provide express MasterCard services all over the European Union.
Some of the alternative banking solutions that the company provides include the following:
1. Safeguarding funds
2. Full partner sponsorship
3. Lite partner sponsorship
4. Private label programs or limited loop
5. Regulated partnership sponsorship
6. Supported functionality and products
7. Customer Loyalty
8. Payroll expense management
Through its partners, PSI Pay has been enabled to support so many establishments. The company does this through empowering activities such as managing the programs for various payment cards, distribution, marketing, sales, and many others. In addition to this, the company provides specialized services for approval, settlement, reporting and any other activities that involve MasterCard. Moreover, the company is also mandated to carry on any activities that are obligatory by the Financial Conduct Authority. These activities include mandates, audits, compliance, and reporting.