How PSI-Pay Will Be Handling Brexit

PSI-Pay is a United Kingdom company that was founded in 2007 and is headquartered in Horsham, West Sussex. They give other companies a way to provide payment solutions to their customers. These businesses are set up to manage their own payment programs through Mastercard. They work with companies in 173 nations around the world and their system is compatible with 44 different currencies. They strive to be efficient, transparent, and clear in their operations.
PSI-Pay is a regulated business. For the first four years they were registered with the FSA. It was in 2011 that the got their Electronic Money institution license. They are now regulated by the Financial Conduct Authority (FCA). They have been part of the Mastercard International organization since 2009 and it was in 2014 that they could offer Mastercard services throughout the European Union.
What PSI-Pay offers is a way for members to deposit and withdraw funds from their accounts, usually in real time. They recently partnered with Kerv which will result in them starting the first contactless payment ring in the world. This will result in users being able to make payments at any Kerv’s 38 million worldwide locations. They can use either a debit or credit card to put money into their accounts which can then be transferred to PayPal. They will also be able to use a virtual card to make either online or in-app purchases.
One question that often comes up in regards to PSI-Pay is what is going to happen to this company given the upcoming Brexit which is basically a divorce between the United Kingdom and the European Union. The leaders of PSI-Pay put out a statement meant to reassure their customers, employees, partners, and other stakeholders that they have a plan to manage Brexit already in place. Managing Director Phil Davies said that they have come up with a workable answer and are looking forward to stability.
When Brexit was being voted on the leaders of PSI-Pay had developed a plan just in case it was actually approved of by voters. He said he can’t reveal everything but they are going to continue on a business-as-usual approach for the foreseeable future.


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