The term of digital wallet is one that is becoming increasingly prevalent in use though many people might continue to be confused by what exactly the term means. The simplest explanation of a digital wallet is to compare it to a traditional billfold wallet. A digital wallet is simply a place to store the user’s financial details such as credit and debit information as well as actual cash. The difference is, of course, the fact that the information is stored digitally for maximum convenience. These digital wallets are becoming increasingly popular, particularly in the United States and Europe. There are some differences between the style of digital wallets that are used in these different markets. One thing that is certain is the fact that a company called PSI-Pay is a major factor in the digital wallet revolution.
In regard to the style of digital wallet that has become popular across Europe, cash balance style wallets predominate. These innovative digital wallets are able to hold multiple different types of currency but many users in Europe also choose to link their bank debit cards to these style of digital wallets. In this way, they can be used to withdraw money at bank cash machines. In comparison to the style of digital wallet popular in the European continent, the American style of digital wallet usually tends not to hold any cash and instead works as a link between the user’s card accounts such as their credit cards and debit cards. It should also be noted that merchants don’t have access to the actual financial information from the user.
As a payment facilitator, PSI Pay has a great amount of interest in staying at the forefront of the digital wallet revolution. Due to this fact, PSI-Pay is now joined up efforts with a company named Kerv Wearables. Kerv is the manufacturer of a digital wallet that takes the form of a ceramic wearable ring. This represents the latest in digital wallet convenience and PSI-Pay has been very proud to b able to partner with a company like Kerv Wearables. A technology called near-field communication is the major factor behind the Kerv Wearables ring. This makes the zirconia ceramic ring a highly convenient way to make payments at a number of different merchants or various types. The Kerv/PSI-Pay partnership has definitely been a winning one as Kerv provides the ring and PSI-Pay facilitates the digital wallet logistics.