PSI-Pay Ltd. is a United Kingdom firm which was established in 2007. They provide payment solutions to other businesses around the world. They provide the framework for other companies to accept payments. These payments can be made using a Mastercard as PSI-Pay since 2009 has been a Principal Issuing Member of MasterCard International. In 2014 they were authorized to directly offer MasterCard services throughout the entire EU.
In order to help other businesses accept payments PSI-Pay partners with them in several ways. This includes general management along with distribution, sales, and marketing activities. The services they can offer to other businesses depends on that partner’s regulatory level.
Phil Davies is the managing director of PSI-Pay. He started out as an advisor to this firm in 2010. In 2011 he was named to its board of directors. Tony Davis is the finance director. He has been a chartered accountant since 1977 and joined PSI-Pay in 2008. Craig James is the director. He has been in the e-money and payment services industries for most of his career. He brought many years of business experience and knowledge to PSI-Pay when he joined.
As many people know, when the British people voted to leave the European Union, aka Brexit, a number of fears were stoked about what would happen to London’s financial industry of which PSI-Pay is a part. Phil Davies put out a statement after the vote that his company had already been looking into contingency plans before the vote was taken as a “just in case” measure. For the current time they are taking a “business as usual” approach. Because they already had measures in place and he doesn’t expect there to be any negative impact on PSI-Pay if and when Britain separates from the EU.
PSI-Pays customers can deposit and withdraw funds at any time. In order to expand what PSI-Pay offers to its customers they partnered with Kerv NFC in June 2016. This opened up a range of payment options for PSI-Pay customers. Kerv built a contactless payment ring which has 38 million locations around the world. At the time Kerv was a startup who had launched a successful Kickstarter campaign a year earlier which allowed them to swiftly build up their network.
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