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PayID - the Universal Payment Identifier

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PayID is a free and open standard that allows for interoperability between payment networks. 

Category: Cryptocurrency / Blockchain    Date: June 2020 Keywords: Ripple, XRP, xRapid, blockchain, cryptocurrency  //   Back to Infographics

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Basic information:

Together with over 40 global companies and nonprofits, Ripple joins the Open Payments Coalition to help drive innovation forward and simplify global payments for all.

PayID is the universal payment identifier.
PayID is a free and open standard that allows for interoperability between payment networks. 

  • 1 standard
  • 40+ companies
  • 100M consumers

This solution replaces complex account numbers with simple names that are easy to understand so instead of the IBAN number or a Bitcoin address you use: JOHN$EXAMPLE.COM

Use cases:

  • Peer to Peer Payments
  • E-Commerce Checkout
  • Subscription Payments
  • Invoice Payments

THIS INFOGRAPHIC IS FOR EDUCATIONAL PURPOSES ONLY.

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