PSI pay is based in the United Kingdom and aim at helping business deal with financial matters buy proving an alternative to banking systems. The company s authorized to offer prepaid cards as well as debit cards and even offers companies funds to help in stabilizing the business. The company is available in almost 170 countries and is accessible in over 40 currencies.
The growth of virtual assets has become more popular by the day, and more inventions are rising by the day. In a recent post. PSI pay seeks to explain the difference between e-money and bitcoin
E-money, means an electronic store for funds, the money is monitored by the central bank, and for one to access E-money, it is mandatory to own an electronic account. E-money is most used for online trades. However, the funds can be exchanged for physical money. E-money is used across the globe.
Trading across the globe has been made easier by the availability of E-money. The form of payment allows buyers and sellers from any part of the country to transact safely.
Bitcoin, on the other hand, is a cryptocurrency. The cryptocurrency is not monitored or regulated by a central authority and deeps on peer to peer exchanges. Bitcoins are extracted and is approved by a number of computers.
Apart from the regulation, another significant difference between E-money and Bitcoin is e-money is fiat money whereas bitcoin cannot be printed as an authorized currency to use across the globe.
Also, when buying bitcoins, it is necessary to have access to a platform such as forex that allows the use of cryptocurrency. E-money, on the other hand, is versatile and can be stored as a cryptocurrency. Whereas the bitcoins cannot be stored. Another difference between using bitcoins and e-money is accessibility, acquiring an e-wallet there is no fee, but one is required to buy bitcoins. Though e-money operates globally and is digitalized, it is similar to traditional means of payment.For an e-wallet to be functional the users is expected to load the wallet with funds to use it. PSI pay’s new venture.
The growth of technology has not only been felt in other sectors but has also changed how the finance sectors are run. Institutions such as PSI pay aim at ensuring that they move with time and provide the best for their clients. PSI Pay recently announced it’s new venture to join hands with Kerv and provide the first contactless payment. PSI pay aims at providing solution to users and believes joining hands with Kerv is a step in the right direction.