Write about Psi Pay: A Banking Alternative
Say Good Bye To Your Bank And Hello To PSI Pay
Who is PSI-Pay
PSI-Pay, founded in 2007, is in business to provide payment solutions to other businesses around the world. They are a licensed payment institution. They are an authorized electronic money institution that entitles them to issue electronic money in the EU. PSI-Pay became a principal issuing member of MasterCard International, in 2009, which allows them to issue debit and prepaid cards as well as virtual cards. They began directly providing these services in the EU in 2014.
PSI-Pay enables customers to use many different platforms to easily move money around the world. They offer a variety of products to help make the process easy. One such product is the online virtual payment account. The business owner opens the executive account. From that account, sub-accounts can be opened and used to pay bills, buy supplies, or anything else that the business needs. No account can operate in the red, which means accountability is everything. Businesses can track spending in real time and even save money on things like bank fees.
Virtual payment cards
Another product that PSI-Pay offers is virtual payment cards. How it works is rather simple. PSI-Pay assigns a one-time MasterCard number to the client, the client in return can use this number online. The number is just like any other MasterCard number, so even if the merchant does not except PSI-Pay, they will expect the MasterCard number. The difference is the money will be taken from the assigned PSI-Pay account instead of being billed as a credit card purchase. This allows business to control their money more efficiently.
An actual card
PSI-Pay can also issue physical cards. The cards are connected to the PSI-Pay main account and can be used to withdraw money at ATM machines and make merchant purchases. Unlike a traditional card, the person using a PSI-Pay physical card can never be overdrawn.
Pinless paying allows customers to quickly make a payment without having to enter a pin. The cost of the merchandise needs to be under a certain limit, but it allows customers to move through lines rapidly. All a customer needs to do is tap their card on the reader and move on. This reduces the chance of credit card fraud, and safeguards are in place to make it a safe transaction for all involved.