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Kerv Ring Will Support Different Funding Options But Not Bitcoin

Source: bitcoin

Bitcoinist_Kerv Ring

The Kerv ring has been spurring a lot of debate in the world of contactless payments since it was first announced. Albeit there have been some questions as to whether or not this product will come to consumers, the release seems imminent. A variety of funding methods will be supported, albeit Bitcoin is not on that list, unfortunately.

Also read: Further Economic Woes In Turkey Create Bitcoin Opportunities

Making contactless payments through wearables sounds inconvenient, depending on which type of wearable is being used. The Kerv ring might be an answer to most of those problems as it is not an obtrusive piece of technology by any means. Moreover, thanks to the company partner with PSI-Pay, it looks like the product will be coming to the global market very soon.

Kerv Contactless Payments Are Coming

Kerv decided to partner with PSI-Pay due to their MasterCard license, which enables ring users to pay at 38 million locations around the world. One of the prerequisites for this type of payment is how retailers need to accept contactless transactions, though. However, MasterCard is actively pursuing retailers to do so.

PSI-Pay LTD Managing Director Phil Davies told the media:

“We are extremely pleased to have been chosen to work with Kerv. As alternative payments go Kerv has to be one of the most innovative, exciting and useful solutions available. There is no doubt that the market is now embracing these revolutionary payment applications and we are proud to be partnering with Kerv and being able to share in its inevitable success.”

Among the many supported funding options for the contactless payment ring is PayPal, debit and credit cards, and bank transfers. Unfortunately, Bitcoin is not on this list, despite its global appeal and no chargebacks. Companies such as Plutus are actively exploring the role of Bitcoin in contactless payments, though.

But there’s more to this partnership than just using the ring, as customers will obtain a virtual payment card as well. This would allow them to purchase online through the same ecosystem they use for offline purchases. Adding Bitcoin to this ecosystem would be a smart move, though.

What are your thoughts on Kerv partnering with PSI-Pay? Let us know in the comments below!

Source: Finextra

Images courtesy of Kerv, PSI-Pay

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Kerv Ring Will Support Different Funding Options But Not Bitcoin

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Bitcoin Worth Considering As Contactless Payment Option For New UK Smart Ticketing Approach

Source: bitcoin

Bitcoin Worth Considering As Contactless Payment Option For New UK Smart Ticketing Approach

It is no secret how one unified payment model for all forms of public transportation could be very beneficial to consumers all over the world. In the United Kingdom, that situation might be about to change in the very near future. Smart ticketing is an interesting concept, and Bitcoin would make the purchasing process a lot smoother for everyone.

Also read: Smart Fabrics Can Take Bitcoin Payments To Mainstream Consumers

The New UK Smart Ticketing System

Rather than having one ticket for bus rides, and another one for train rides, a unified transportation card valid across all transit journeys would go a long way. However, it is not easy to unite all of these industries under one banner, as not all of them are state-owned. In fact, there is no country in the world where one ticketing system grants access to all types of transit journeys.

Even though the Oyster Card is a valuable tool in the United Kingdom – for both residents and foreign visitors – it only grants access to the tube network and limited overground capabilities. But there are so many different ways of transit journeys these days, and not all of them start or end in London.

By rolling out a new smart ticketing system throughout the United Kingdom, consumers will be able to use contactless payments on a pay-as-you-go basis. This means that any single bus trip, train ride, or even combinations of multiple forms of transport can be paid for in a frictionless manner.

It goes without saying that contactless payments for short-distance journeys have never been much of a problem, simply because the ticket prices are rather low. But when it comes to travelling longer distances, prices for public transportation skyrocket. A train ride can cost you more than 50 GBP quite easily, without even travelling that long.

A joint project between the rail industry and the [contactless] card industry will further explore the possibilities between both parties. If all goes to plan, even season tickets should become available for purchase through contactless payments, in the long run, removing the need for passengers to print their own tickets.

Bitcoin Makes  A Lot of Sense For Contactless Payments

When it comes to making contactless – or mobile – payments, it is hard to find a solution that works for everyone travelling throughout the United Kingdom. Especially for tourists and foreign visitors, there is no universal payment method that will let them purchase these tickets in a convenient manner. Bitcoin offers a solution in that regard, as it is the only global currency in the world today [without the need for currency exchanges].

If the UK rail operators are planning to explore the possibilities of contactless payments, Bitcoin should not be discounted as a supported payment method. Most of the Bitcoin users have a wallet on their mobile device at all times, and most smartphones have contactless payment capabilities. It only makes sense to unify both of these technological marvels into an ecosystem that lets anyone buy public transportation tickets in the currency they prefer.

What are your thoughts on smart ticketing in general? Should Bitcoin be considered as a potential payment method? Let us know in the comments below!

Source: Finextra

Images courtesy of Shutterstock, UK Cards Association, Britain From Above

The post Bitcoin Worth Considering As Contactless Payment Option For New UK Smart Ticketing Approach appeared first on Bitcoinist.net.

Bitcoin Worth Considering As Contactless Payment Option For New UK Smart Ticketing Approach

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