The PayPass offering enables holders of PSI-Pay’s payment cards to carry out purchases for £20 and under by tapping the MasterCard or Maestro-enabled card or device over a reader.
The PayPass technology has been combined with layers of protection to assist prevent unauthorized, purchases, while contactless payments can be made through cards, and enabled wristbands and watches.
In order to secure data and safeguard privacy, contactless payments are made using a unique encrypted code and there is also in place to bill only one in case a user taps their card or device more than once by mistake.
PSI-Pay managing director Phil Davies said contactless payments is an evolving technology that possesses numerous opportunities for retailers, advertisers and marketers alike.
"As awareness increases amongst consumers we expect adoption to fall inline with the predictions from analyst firm Gartner which expects to see contactless payments reach $22bn by the end of 2016," Davies added.
PSI-Pay operates as an FCA regulated company and delivers an instant, secure and private means for individuals and businesses to send and receive money globally.
