PayID aims to simplify the process of sending and receiving money globally, across any payment network and any currency. Thus, GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, Mercy Corps and others have collaborated on the development of PayID through the Open Payments Coalition, a multinational alliance of industry leaders.
PayID brings together companies across all industries with an open solution for payments, pairing traditional finance, and the new world of fintech under one standard. More than 40 global companies and nonprofits reaching more than 100 million consumers worldwide have joined the Open Payments Coalition.
PayID allows individuals to send and receive money across any payment network using an easy-to-read address, according to the official announcement. Whether a bank, payment provider or processor, digital wallet, or remittance provider, PayID is designed for any business that sends or receives money.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now