PSI-Pay: Contactless Payment Solutions Are Secure Than Ever Before
PSI-Pay is one of the key players in the e-payments industry. The company specializes in the provision of debit and credit cards, virtual cards, as well as contactless payment solutions within its market of investment. Since its inception, the company has been working within the philosophy of empowering its partners and clients to ensure better management of payments through the e-payment platforms. The company has also been categorical in resolving the numerous issues that affect the e-payments industry, especially those that have to do with the security of e-pay solutions.
According to PSI-Pay, modern-day contactless payments as mediated by the company’s solutions do take security with the seriousness concerned. The heightened security has given customers confidence such that 25 percent of all payments made in the UK market are made using the contactless channels of payment. PSI-Pay has been working towards enforcing contactless payment security systems through various technologies.
Firstly, the company has initiated and enforced data encryption techniques mediated and regulated by the microchip technology to prevent any illegal payments. To ensure further security, the technology uses both the encryption technology and the PIN code concept to ensure that customers can enjoy cashless payments without a potential risk of getting hacked into.
Also, PSI-Pay has also initiated and enforced proper regulations regarding the number of payments that one can make per unit time. For instance, a customer can only make contactless payments worth a limited amount of $25 in the US and £30 in the UK. Amounts surpassing this value usually require additional verification. Such a system protects customers from illegal payments by adding an extra layer of security checks.
Lastly, PSI-Pay’s secure payment systems are negotiated and enforced by the Near-Field-Communication technology. This technology addresses the issue of accidental payments when the customer’s card comes near the card reader. Necessarily, the card must be not more than an inch to the card reader for a payment to be made. PSI-Pay has therefore mastered and revolutionized the e-payment sector quite well.