Technology firms PSI-Pay and Kerv Wearables have announced that they are partnering up to enable what they claim is the world’s first contactless payment ring to be released to the global market.
PSI-Pay provides digital account and payment card facilities to the international market while Kerv is an innovator in the alternative payments industry.
The partnership utilises PSI-Pay’s MasterCard licence, which will enable users of the Kerv contactless payment ring to pay in 38 million locations worldwide.
Kerv users will be able to fund their account via debit or credit card, bank transfer or PayPal, either via a manual load, or the auto top-up service.
Kerv users may make online or in-app purchases with their virtual card.
Speaking on the technology, Phil Davies, MD of PSI-Pay, said: "There is no doubt that the market is now embracing these revolutionary payment applications and we are proud to be partnering with Kerv and being able to share in its inevitable success."
Phil Campbell, founder of Kerv, added: “We are creating a unique new payment device – not only with a more convenient, personal form factor, but extending its capability beyond payments, to transport, data sharing and access control.
The Kerv contactless payment ring recently scooped the Temenos Innovation Jam award.
© 2016 European Supermarket Magazine – your source for the latest retail news. To subscribe to ESM: The European Supermarket Magazine, click here.
