PSI Pay is a company that provides European Style digital wallet services in the UK. They are a Fintech company and using their digital wallets is safe because they are regulated by the UK Financial Conduct Authority. They provide services to local and international customers and markets.
PSI Pay serve the same purpose as traditional wallets. The difference is that digital wallets offer a single space where customers can store cash, credit cards, debit cards and loyalty cards. It is in the form of a mobile device where all details of cards and cash are entered. Different countries have different regulations and practices for the usage of digital wallets depending on the spending habits of customers. In Europe digital wallets have cash balances. These balances allow customers to withdraw money at ATMs using their digital wallet. Customers use digital wallets to convert cryptocurrency into cash so that they can use in stores.
Digital wallets in Europe have slowly replaced checking accounts. Digital wallets are useful in a location where most businesses accept mobile payments. Banks cannot pay interest on money in a digital wallet unlike in accounts. PSI Pay offers a digital wallet to customers. Customers can sign up for a PSI Pay and deposit a sum of money. They can immediately start making transactions and purchase products and services. PSI Pay offers an Eco Account and Eco Card. They were allowed to issue electronic funds by authorities in Britain in the year 2011 and they have introduced new and innovative digital payment services since then.
PSI Pay has started the process of making digital payments easy. PSI Pay expects quick growth in the sector of digital payments in the near future and makes efforts to ensure that using digital wallets and other digital payment methods is user friendly.