A strategic partnership entails a relationship between two major commercial enterprises that have been formalized by a significant contract. Moreover, a strategic collaboration usually falls short of a prominent legal entity, agency or better yet, an affiliate relationship. As illustrated in the case of PSI-Pay and Kerv Wearables, strategic partnerships involve handshakes and alliances set to help companies thrive by providing various services to their clients.
Reasons for Partnering
PSI-Pay is a leading regulated Fintech firm that provides digital account as well as payment card resources to the significant international industry while Kerv is a leading innovator of alternative payments in the industry. First announced a few weeks ago, the duo is joining hands and resources in a partnership with the intention of utilizing PSI-Pay’s MasterCard license. From the look of this partnership, this license will allow Kerv’s users to access payment in significant locations countrywide. Moreover, they will be able to use a debit or credit card as they utilize other options like PayPal at the same time. Even better is the fact that the consumers can comfortably access contactless payments through standard loads and auto-top-up services.
— PSI-Pay (@PSIPayLtd) May 24, 2016
About the New Partnership
Regarding this new partnership, the managing director of PSI-Pay Phil Davies has stated his excitement over the deal. Specifically, he said that he is impressed by the turn of events as the business deal between his company and Kerv is going to be successful given their shared preferences in service delivery. Other than that, he has also stated that there is no doubt about their ability to deliver top-notch services as a team. Moreover, as they embrace the new leadership structures, it is evident that the payment applications are already getting into their systems.
Benefits of the Partnership
Correspondingly, Phil of the famous Kerv stated his concerns about the partnership while pointing out to the fact that Kerv is creating a revolutionary payment method that will enable clients to enjoy timely payments while extending their capabilities to access control. Moreover, he goes ahead to point out to the fact that bringing Kerv to the market was quite challenging as they needed to invest in numerous resources to have access to legal documentation. Now that Kerv is accessible as it has been listed in the market, it is easy for clients to access contactless payments.
What of PSI-Pay?
PSI-Pay provides clients in partnerships with sponsored payment solutions. Moreover, the company enables businesses to control their programs through the support of a majorly regulated entity and a MasterCard. Over and above, with PSI-Pay, consumers have become wary about moving to digital banking as there are more advantages of utilizing digital wallets.
The General Observation
Additionally, PSI-Pay provides high-quality and reliable payment methods that have contributed to the development of the firm by more than 30%. Conclusively, this payment method enhances security alongside empowering the user when it comes to replacing numerous cards through a single mobile device. Without a doubt, it is evident that since its inception in the industry, PSI-Pay has improved payment methods in different companies and homestead.