As technology has changed over the years, so has the method many consumers use to buy things. Using remote sources of money has become commonplace across the developed world, however there are 2 distinct kinds of electronic payments, Cryptocurrency and E-Money, and they are often confused. Both systems operate on two different systems. PSI-Pay is a company that is at the forefront of the market shift. They invested a lot of money into wearable accessories that can used for payments. A recent article on the website Tech News Spy discusses the differences between these two payment options.
On one side there is electronic money storage, known as E-money. It’s simply paying through an app that is connected to an actual money source. While Bitcoin is pure electronic currency that only has value between businesses and consumers who use it. The value of it tends to vary heavily depending on public trust and usage. Its niche uses have gained significant traction recently. PSI Pay is supporting the E-money market with is recent technology upgrades.
Cryptocurrency requires its own unique platform for buying and selling. The fact that it has its own separate value means the consumer marketplace is outside of the typical place one would buy products. An E-Wallet is simply a digital wallet. It hold all your money and resources in one place like a physical wallet. In terms of regulation, the concept of digital money is relatively new so politics hasn’t caught up with it yet. PSI Pay has had great success in this developing market. While cryptocurrency has struggled to catch on outside of users who actually understand.
The future of business transactions is very much in a constant state of right now. PSI Pay and Kerv Wearables have teamed up to ensure digital transactions become more commonplace. While company such as ecoPayz provide a secure middleman service between transactions and the users accounts. Cryptocurrency is still finding its place in the market, but as a whole, businesses are constantly staying up to date on the latest trends.